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

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%.

NVIDIA has a payout ratio of 0.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NVIDIA to earn $3.64 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 Down 0.8 %

NASDAQ NVDA traded down $1.12 on Wednesday, hitting $145.89. The stock had a trading volume of 297,829,899 shares, compared to its average volume of 397,415,188. The business’s fifty day moving average price is $132.42 and its 200 day moving average price is $121.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.06, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that NVIDIA will post 2.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Westpark Capital upped their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Citigroup increased their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.63.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % 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 hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About NVIDIA

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.