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

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Shareholders of record on Thursday, December 5th will be given a dividend of 0.01 per share by the computer hardware maker on Friday, December 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th.

NVIDIA has a dividend payout ratio of 0.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NVIDIA to earn $3.90 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 1.0%.

NVIDIA Trading Down 0.2 %

Shares of NASDAQ NVDA traded down $0.27 during trading hours on Tuesday, hitting $138.36. 2,649,975 shares of the company traded hands, compared to its average volume of 391,345,063. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.56, a price-to-earnings-growth ratio of 2.50 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $136.05 and its 200 day moving average price is $124.11. NVIDIA has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NVDA shares. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,916,986 shares of company stock worth $227,311,199 over the last quarter. 4.23% of the stock is currently owned by corporate insiders.

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.