NVIDIA Co. Announces Quarterly Dividend of $0.04 (NASDAQ:NVDA)

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Friday, May 17th, Zacks reports. Stockholders of record on Wednesday, May 29th will be paid a dividend of 0.04 per share by the computer hardware maker on Tuesday, June 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Wednesday, May 29th.

NVIDIA has a dividend payout ratio of 0.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NVIDIA to earn $27.49 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 0.6%.

NVIDIA Stock Up 2.6 %

Shares of NASDAQ:NVDA opened at $1,064.69 on Monday. The company has a market cap of $2.62 trillion, a price-to-earnings ratio of 62.26, a PEG ratio of 1.23 and a beta of 1.75. NVIDIA has a one year low of $366.35 and a one year high of $1,064.75. The firm has a fifty day moving average price of $893.19 and a two-hundred day moving average price of $706.34. 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 shares are going to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. Analysts anticipate that NVIDIA will post 23.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVDA shares. UBS Group increased their target price on NVIDIA from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group lifted their target price on shares of NVIDIA from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group increased their price target on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $850.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $850.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,123.49.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,278 shares of company stock valued at $40,710,498. 4.23% of the stock is 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.