Intuit said on May 23, 2023 that its board of directors declared a regular quarterly dividend of $0.78 per share ($3.12 annualized). Previously, the company paid $0.78 per share.
Shares must be purchased before the ex-div date of July 7, 2023 to qualify for the dividend. Shareholders of record as of July 10, 2023 will receive the payment on July 18, 2023.
At the current share price of $413.18 / share, the stock’s dividend yield is 0.76%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.70%, the lowest has been 0.39%, and the highest has been 1.09%. The standard deviation of yields is 0.13 (n=237).
The current dividend yield is 0.42 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.39. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.47%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 2863 funds or institutions reporting positions in Intuit. This is an increase of 80 owner(s) or 2.87% in the last quarter. Average portfolio weight of all funds dedicated to INTU is 0.69%, an increase of 8.75%. Total shares owned by institutions decreased in the last three months by 0.88% to 268,858K shares. The put/call ratio of INTU is 0.80, indicating a bullish outlook.
Analyst Price Forecast Suggests 21.09% Upside
As of May 11, 2023, the average one-year price target for Intuit is 500.31. The forecasts range from a low of 343.40 to a high of $682.50. The average price target represents an increase of 21.09% from its latest reported closing price of 413.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Intuit is 14,431MM, an increase of 2.57%. The projected annual non-GAAP EPS is 13.97.
What are Other Shareholders Doing?
Price T Rowe Associates holds 15,101K shares representing 5.38% ownership of the company. In it’s prior filing, the firm reported owning 16,661K shares, representing a decrease of 10.33%. The firm decreased its portfolio allocation in INTU by 3.38% over the last quarter.
Jpmorgan Chase holds 9,611K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 7,249K shares, representing an increase of 24.58%. The firm increased its portfolio allocation in INTU by 40.34% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,113K shares representing 2.89% ownership of the company. In it’s prior filing, the firm reported owning 7,998K shares, representing an increase of 1.42%. The firm decreased its portfolio allocation in INTU by 5.86% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 6,516K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 6,394K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in INTU by 5.66% over the last quarter.
Geode Capital Management holds 5,183K shares representing 1.85% ownership of the company. In it’s prior filing, the firm reported owning 5,110K shares, representing an increase of 1.41%. The firm increased its portfolio allocation in INTU by 7.45% over the last quarter.
Intuit Background Information
(This description is provided by the company.)
Intuit’s mission is to power prosperity around the world. The Company is a mission-driven, global financial platform company with products including TurboTax, QuickBooks, and Mint, designed to empower consumers, self-employed and small businesses to improve their financial lives. Intuit platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Its innovative ecosystem of financial management solutions serves more than 50 million customers worldwide.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
