NVIDIA Co. (NASDAQ:NVDA) Plans Quarterly Dividend of $0.01

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, August 28th, RTT News reports. Shareholders of record on Thursday, September 12th will be given a dividend of 0.01 per share by the computer hardware maker on Thursday, October 3rd. This represents a $0.04 annualized dividend and a yield of 0.03%.

NVIDIA has a dividend payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NVIDIA to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.3%.

NVIDIA Trading Down 2.5 %

Shares of NVDA stock traded down $3.20 on Thursday, hitting $122.41. The stock had a trading volume of 201,599,625 shares, compared to its average volume of 443,265,125. The company’s 50 day moving average price is $120.71 and its 200-day moving average price is $102.54. The firm has a market capitalization of $3.01 trillion, a P/E ratio of 70.87, a P/E/G ratio of 1.15 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVDA shares. Stifel Nicolaus upped their price objective on shares of NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a research note on Monday, May 20th. Piper Sandler boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Raymond James lifted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday. Wolfe Research increased their target price on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group boosted their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.49.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 89,000 shares of NVIDIA stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $113.92, for a total value of $10,138,880.00. Following the completion of the sale, the director now directly owns 10,162,940 shares of the company’s stock, valued at $1,157,762,124.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,021,333 shares of company stock valued at $599,173,182. Insiders own 4.23% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.