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

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) declared a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Shareholders of record on Wednesday, June 11th will be paid a dividend of 0.01 per share by the computer hardware maker on Thursday, July 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th.

NVIDIA has raised its dividend payment by an average of 33.4% annually over the last three years and has raised its dividend every year for the last 1 years. NVIDIA has a payout ratio of 0.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 3.5%

Shares of NVDA stock traded down $4.91 during mid-day trading on Friday, hitting $134.28. The company's stock had a trading volume of 332,224,842 shares, compared to its average volume of 284,499,573. NVIDIA has a 52-week low of $86.62 and a 52-week high of $195.95. The business has a 50-day moving average price of $115.48 and a 200 day moving average price of $126.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.28 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The business's quarterly revenue was up 69.2% compared to the same quarter last year. Research analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVDA. DA Davidson lifted their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Wednesday. Bank of America boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Raymond James boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently made changes to their positions in the business. Stuart Chaussee & Associates Inc. increased its holdings in shares of NVIDIA by 48.9% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,047 shares of the computer hardware maker's stock valued at $222,000 after acquiring an additional 672 shares during the last quarter. Spectrum Wealth Advisory Group LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $238,000. Brooks Moore & Associates Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $241,000. AlphaQuest LLC increased its holdings in shares of NVIDIA by 133.0% in the 1st quarter. AlphaQuest LLC now owns 2,234 shares of the computer hardware maker's stock valued at $242,000 after acquiring an additional 1,275 shares during the last quarter. Finally, RiverGlades Family Offices LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $248,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.