NVIDIA (NASDAQ:NVDA) Stock Price Up 4.9% After Dividend Announcement

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares were up 4.9% on Thursday following a dividend announcement from the company. The company traded as high as $143.49 and last traded at $141.36. Approximately 169,895,356 shares were traded during trading, a decline of 41% from the average daily volume of 286,758,125 shares. The stock had previously closed at $134.81.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVDA shares. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Price Performance

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 firm has a market cap of $3.28 trillion, a P/E ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a 50-day moving average of $115.48 and a 200 day moving average of $126.38.

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

Insider Buying and Selling

In related news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company's stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm'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 sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. 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 owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $40,000. Kathleen S. Wright Associates Inc. grew its stake in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after purchasing an additional 254 shares during the period. Finally, Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $50,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.