NVIDIA Co. (NASDAQ:NVDA) Plans $0.01 Quarterly Dividend

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Shareholders of record on Thursday, December 5th will be paid a dividend of 0.01 per share by the computer hardware maker on Friday, December 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%.

NVIDIA has a dividend payout ratio of 0.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NVIDIA to earn $3.69 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 1.1%.

NVIDIA Stock Down 0.8 %

Shares of NVDA stock opened at $145.89 on Thursday. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.43, a PEG ratio of 1.54 and a beta of 1.66. The firm’s 50-day moving average is $133.00 and its 200-day moving average is $121.54.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts predict that NVIDIA will post 2.68 EPS for the current year.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVDA shares. Bank of America boosted their price target on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Craig Hallum lifted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Finally, William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.82.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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.