NVIDIA Co. (NASDAQ:NVDA) Plans Dividend Increase – $0.10 Per Share

NVIDIA Co. (NASDAQ:NVDA) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Tuesday, June 11th will be paid a dividend of 0.10 per share by the computer hardware maker on Friday, June 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04.

NVIDIA has a payout ratio of 0.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

NVDA stock traded down $4.36 during midday trading on Wednesday, reaching $949.50. The company’s stock had a trading volume of 50,566,035 shares, compared to its average volume of 49,532,457. NVIDIA has a 52 week low of $298.06 and a 52 week high of $974.00. The stock has a market cap of $2.34 trillion, a PE ratio of 79.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $885.48 and its 200-day simple moving average is $694.58.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (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 firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same period last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA will post 23.01 EPS for the current year.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other NVIDIA news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,278 shares of company stock worth $52,689,898. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVDA shares. Raymond James lifted their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. UBS Group lifted their price target on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. HSBC lifted their price target on shares of NVIDIA from $1,050.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Robert W. Baird lifted their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Cowen lifted their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,002.18.

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.