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

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

NVIDIA has a dividend payout ratio of 0.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect NVIDIA to earn $3.69 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 1.1%.

NVIDIA Stock Performance

NVDA opened at $146.71 on Friday. The stock has a 50-day moving average of $133.55 and a 200-day moving average of $121.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a 52-week low of $45.01 and a 52-week high of $152.89. The company has a market cap of $3.60 trillion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA will post 2.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday. UBS Group increased their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. HSBC lifted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Company 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.