Intuit Inc. (INTU) to Issue Quarterly Dividend of $0.34 on October 18th
Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Thursday, August 25th. Stockholders of record on Monday, October 10th will be paid a dividend of 0.34 per share on Tuesday, October 18th. This represents a $1.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.30.
Shares of Intuit (NASDAQ:INTU) opened at 109.31 on Friday. Intuit has a one year low of $85.61 and a one year high of $116.97. The stock’s 50 day moving average price is $110.80 and its 200 day moving average price is $107.59. The company has a market cap of $28.20 billion, a PE ratio of 29.60 and a beta of 1.05.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business earned $754 million during the quarter, compared to analyst estimates of $735.35 million. During the same period in the prior year, the company earned ($0.05) earnings per share. Intuit’s revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Intuit will post $4.35 earnings per share for the current fiscal year.
In other Intuit news, EVP Sasan K. Goodarzi sold 7,350 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $109.19, for a total value of $204,294.49. Following the sale, the executive vice president now owns 2,541 shares in the company, valued at approximately $277,451.79. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd increased its stake in Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock worth $123,000 after buying an additional 900 shares during the last quarter. AHL Partners LLP increased its stake in Intuit by 222.9% in the second quarter. AHL Partners LLP now owns 24,038 shares of the company’s stock worth $2,683,000 after buying an additional 16,593 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Intuit during the second quarter worth $5,515,000. Carlson Capital L P increased its stake in Intuit by 8.5% in the second quarter. Carlson Capital L P now owns 112,825 shares of the company’s stock worth $12,592,000 after buying an additional 8,825 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in Intuit by 21.0% in the second quarter. Guggenheim Capital LLC now owns 420,631 shares of the company’s stock worth $46,946,000 after buying an additional 72,996 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
Several equities analysts have weighed in on INTU shares. Canaccord Genuity reissued a “buy” rating and set a $750.00 price objective on shares of Intuit in a report on Friday, July 22nd. Goldman Sachs Group Inc. reissued a “buy” rating and set a $123.00 price objective (up from $117.00) on shares of Intuit in a report on Thursday, June 23rd. Brean Capital reissued a “buy” rating and set a $130.00 price objective on shares of Intuit in a report on Monday, June 20th. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Wednesday, June 29th. Finally, Citigroup Inc. reissued a “buy” rating and set a $128.00 price objective on shares of Intuit in a report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Intuit has an average rating of “Buy” and an average target price of $194.34.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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