Intuit Inc. (INTU) To Go Ex-Dividend on January 9th

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Thursday, January 9th will be given a dividend of 1.04 per share by the software maker on Friday, January 17th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th.

Intuit has increased its dividend payment by an average of 14.1% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Intuit has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Intuit to earn $16.07 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 25.9%.

Intuit Stock Performance

Shares of INTU opened at $638.83 on Wednesday. The firm has a fifty day moving average of $634.46 and a 200-day moving average of $631.29. The company has a market cap of $178.90 billion, a price-to-earnings ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit will post 14.05 earnings per share for the current year.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock valued at $35,200,125 in the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INTU shares. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Piper Sandler dropped their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Company Profile

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.