NVIDIA Co. (NASDAQ:NVDA) Declares Dividend Increase - $0.10 Per Share

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Stockholders of record on Tuesday, June 11th will be given a dividend of 0.10 per share by the computer hardware maker on Friday, June 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.04%. This is a positive change from NVIDIA's previous quarterly dividend of $0.04.

NVIDIA has a dividend payout ratio of 0.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect NVIDIA to earn $26.27 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 Trading Down 0.5 %

NVIDIA stock traded down $4.36 during trading on Wednesday, hitting $949.50. The company's stock had a trading volume of 54,065,527 shares, compared to its average volume of 49,542,973. The stock's fifty day moving average is $886.29 and its 200 day moving average is $696.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA has a 1-year low of $298.06 and a 1-year high of $974.00. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 79.52, a P/E/G ratio of 1.33 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The company's quarterly revenue was up 262.1% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA will post 23.01 EPS for the current year.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company's stock, valued at $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 22,700 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,278 shares of company stock worth $52,689,898. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NVDA shares. TD Cowen lifted their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, March 21st. CICC Research assumed coverage on NVIDIA in a research report on Wednesday, March 6th. They set an "outperform" rating and a $870.00 price target for the company. Tigress Financial raised their price objective on NVIDIA from $790.00 to $985.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their target price on NVIDIA from $970.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Tuesday, May 14th. Finally, Barclays raised their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the company an "overweight" rating in a report on Monday. Four 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,002.18.

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.