Intuit Inc. (NASDAQ:INTU – Get Free Report) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.90 per share by the software maker on Thursday, July 18th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, July 10th.
Intuit has raised its dividend by an average of 14.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Intuit has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intuit to earn $13.30 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 27.1%.
Intuit Price Performance
Shares of NASDAQ:INTU opened at $596.25 on Tuesday. The firm has a market cap of $166.68 billion, a PE ratio of 56.00, a price-to-earnings-growth ratio of 3.70 and a beta of 1.22. Intuit has a 52 week low of $400.22 and a 52 week high of $676.62. The firm’s fifty day moving average is $634.12 and its 200-day moving average is $622.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.
Insider Buying and Selling at Intuit
In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on INTU shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Susquehanna cut their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.
Read Our Latest Report on INTU
About Intuit
Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.
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