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

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Wednesday, March 12th will be paid a dividend of 0.01 per share by the computer hardware maker on Wednesday, April 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%.

NVIDIA has increased its dividend by an average of 33.4% annually over the last three years. NVIDIA has a 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 Stock Up 3.7 %

Shares of NVDA stock opened at $131.28 on Thursday. The stock has a 50 day moving average of $134.60 and a 200-day moving average of $131.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.22 trillion, a PE ratio of 51.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NVIDIA stock. Highview Capital Management LLC DE increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,396 shares of the computer hardware maker’s stock after buying an additional 3,653 shares during the quarter. NVIDIA accounts for about 3.0% of Highview Capital Management LLC DE’s holdings, making the stock its 7th biggest holding. Highview Capital Management LLC DE’s holdings in NVIDIA were worth $7,842,000 as of its most recent SEC filing. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on NVDA shares. Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective (up from $152.00) on shares of NVIDIA in a research note on Wednesday. Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a report on Thursday. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $168.70.

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.