Intuit Inc. (INTU) Announces $0.34 Quarterly Dividend
Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Monday, November 21st. Investors of record on Tuesday, January 10th will be given a dividend of 0.34 per share on Wednesday, January 18th. This represents a $1.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, January 6th.
Intuit (NASDAQ:INTU) traded down 0.27% during mid-day trading on Monday, reaching $115.67. 1,940,584 shares of the company were exchanged. Intuit has a 12 month low of $88.17 and a 12 month high of $116.97. The stock has a market capitalization of $29.84 billion, a P/E ratio of 31.32 and a beta of 1.08. The company’s 50 day moving average price is $108.63 and its 200-day moving average price is $109.09.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The company had revenue of $778 million for the quarter, compared to the consensus estimate of $754.36 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Intuit will post $4.34 earnings per share for the current fiscal year.
In related news, CFO R Neil Williams sold 6,636 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.06, for a total transaction of $730,358.16. Following the transaction, the chief financial officer now owns 4,727 shares of the company’s stock, valued at $520,253.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 11,503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total transaction of $1,282,239.41. Following the transaction, the executive vice president now directly owns 670 shares in the company, valued at approximately $74,684.90. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Intuit by 109.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,158,949 shares of the company’s stock worth $347,516,000 after buying an additional 1,651,255 shares in the last quarter. FMR LLC raised its position in Intuit by 10.9% in the second quarter. FMR LLC now owns 4,090,210 shares of the company’s stock worth $456,508,000 after buying an additional 401,036 shares in the last quarter. Alliancebernstein L.P. raised its position in Intuit by 61.2% in the second quarter. Alliancebernstein L.P. now owns 793,194 shares of the company’s stock worth $88,528,000 after buying an additional 301,188 shares in the last quarter. State of Wisconsin Investment Board raised its position in Intuit by 86.9% in the second quarter. State of Wisconsin Investment Board now owns 446,197 shares of the company’s stock worth $49,800,000 after buying an additional 207,400 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Intuit by 5.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,483,984 shares of the company’s stock worth $388,848,000 after buying an additional 171,027 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the stock. Brean Capital raised their price target on shares of Intuit from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Goldman Sachs Group Inc. increased their price objective on shares of Intuit from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $113.00 price objective (up previously from $93.00) on shares of Intuit in a report on Monday, August 15th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $114.00 price objective on shares of Intuit in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $200.83.
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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