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

NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Wednesday, August 28th, RTT News reports. Stockholders of record on Thursday, September 12th will be given a dividend of 0.01 per share by the computer hardware maker on Thursday, October 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th.

NVIDIA has a dividend payout ratio of 1.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NVIDIA to earn $3.49 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 Trading Up 3.5 %

NASDAQ NVDA opened at $106.47 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $118.26 and its two-hundred day simple moving average is $105.08. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 62.26, a PEG ratio of 0.93 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts forecast that NVIDIA will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Barclays reduced their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Finally, Truist Financial boosted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,725,633 shares of company stock valued at $454,719,722. Insiders own 4.23% of the company’s stock.

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

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.