NVIDIA (NASDAQ:NVDA) Shares Gap Up Following Dividend Announcement

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $134.81, but opened at $142.25. NVIDIA shares last traded at $141.43, with a volume of 70,927,000 shares traded.

The newly announced dividend which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NVDA shares. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. Bank of America increased their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $171.66.

NVIDIA Trading Down 3.5%

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $115.20 and a 200-day moving average price of $126.61. The firm has a market capitalization of $3.28 trillion, a PE ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The company's revenue was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% 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 link. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC increased its position in NVIDIA by 0.4% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock worth $10,989,000 after buying an additional 322 shares in the last quarter. Wealth Group Ltd. boosted its stake in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares during the last quarter. Miracle Mile Advisors LLC increased its position in NVIDIA by 27.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 503,974 shares of the computer hardware maker's stock worth $67,679,000 after purchasing an additional 109,811 shares in the last quarter. PFW Advisors LLC acquired a new position in NVIDIA in the 4th quarter valued at about $3,354,000. Finally, Signet Financial Management LLC lifted its holdings in NVIDIA by 27.0% in the 4th quarter. Signet Financial Management LLC now owns 23,742 shares of the computer hardware maker's stock valued at $3,188,000 after purchasing an additional 5,048 shares in the last quarter. Institutional investors and hedge funds own 65.27% 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.