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

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Stockholders of record on Wednesday, June 11th will be paid a dividend of 0.01 per share by the computer hardware maker on Thursday, July 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th.

NVIDIA has a dividend payout ratio of 0.7% meaning its dividend is sufficiently covered by earnings. Analysts expect NVIDIA to earn $3.98 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 Up 1.2%

Shares of NVIDIA stock opened at $141.72 on Monday. The firm has a 50-day moving average of $118.45 and a 200-day moving average of $126.10. NVIDIA has a 52-week low of $86.62 and a 52-week high of $195.95. The stock has a market cap of $3.46 trillion, a PE ratio of 55.77, a PEG ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA will post 2.77 EPS for the current year.

Insider Activity at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,255,320 shares of company stock worth $172,680,419. Insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. Stuart Chaussee & Associates Inc. raised its stake in NVIDIA by 48.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,047 shares of the computer hardware maker’s stock valued at $222,000 after purchasing an additional 672 shares in the last quarter. Spectrum Wealth Advisory Group LLC purchased a new stake in shares of NVIDIA during the 1st quarter valued at $238,000. Brooks Moore & Associates Inc. purchased a new stake in shares of NVIDIA during the 1st quarter valued at $241,000. AlphaQuest LLC raised its position in shares of NVIDIA by 133.0% during the 1st quarter. AlphaQuest LLC now owns 2,234 shares of the computer hardware maker’s stock valued at $242,000 after buying an additional 1,275 shares in the last quarter. Finally, RiverGlades Family Offices LLC purchased a new stake in shares of NVIDIA during the 1st quarter valued at $248,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Citigroup reaffirmed a “buy” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. DA Davidson boosted their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.66.

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.