Fintel reports that on August 18, 2023, Barclays maintained coverage of Intuit (NASDAQ:INTU) with a Overweight recommendation.
Analyst Price Forecast Suggests 5.52% Upside
As of August 2, 2023, the average one-year price target for Intuit is 512.77. The forecasts range from a low of 420.16 to a high of $609.00. The average price target represents an increase of 5.52% from its latest reported closing price of 485.96.
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.
Intuit Declares $0.78 Dividend
On May 23, 2023 the company declared a regular quarterly dividend of $0.78 per share ($3.12 annualized). Shareholders of record as of July 10, 2023 received the payment on July 18, 2023. Previously, the company paid $0.78 per share.
At the current share price of $485.96 / share, the stock's dividend yield is 0.64%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.69%, the lowest has been 0.39%, and the highest has been 1.09%. The standard deviation of yields is 0.13 (n=236).
The current dividend yield is 0.39 standard deviations below 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.
What is the Fund Sentiment?
There are 2898 funds or institutions reporting positions in Intuit. This is an increase of 42 owner(s) or 1.47% in the last quarter. Average portfolio weight of all funds dedicated to INTU is 0.70%, an increase of 1.78%. Total shares owned by institutions increased in the last three months by 0.73% to 270,737K shares. 
The put/call ratio of INTU is 1.06, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 13,808K shares representing 4.93% ownership of the company. In it's prior filing, the firm reported owning 15,101K shares, representing a decrease of 9.36%. The firm decreased its portfolio allocation in INTU by 61.44% over the last quarter.
Jpmorgan Chase holds 9,225K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 9,611K shares, representing a decrease of 4.18%. The firm decreased its portfolio allocation in INTU by 12.01% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,251K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 8,113K shares, representing an increase of 1.67%. The firm increased its portfolio allocation in INTU by 7.56% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,555K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 6,516K shares, representing an increase of 0.60%. The firm increased its portfolio allocation in INTU by 6.86% 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.
Additional reading:
- Contacts: Investors Media Kim Watkins Abby Smith Intuit Inc. Intuit Inc. 650-944-3324 408-839-6028 kim_watkins@intuit.com abby_smith@intuit.com Intuit Names Marianna Tessel General Manager of Small Business and Self-Employed Group Leader of Intuit’s
- BYLAWS INTUIT INC. A Delaware Corporation As Amended July 27, 2023 ARTICLE I
- Contacts: Investors Media Kim Watkins Abby Smith Intuit Inc. Intuit Inc. 650-944-3324 408-839-6028 kim_watkins@intuit.com abby_smith@intuit.com Intuit Reports Third Quarter Results and Raises Total Company Full Year Guidance Small Business and Self-E
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