NVIDIA Co. (NASDAQ:NVDA) Announces $0.04 Quarterly Dividend

NVIDIA Co. (NASDAQ:NVDA – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Thursday, June 8th will be given a dividend of 0.04 per share by the computer hardware maker on Friday, June 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, June 7th.

NVIDIA has a dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NVIDIA to earn $4.79 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 3.3%.

NVIDIA Stock Up 24.4 %

NVDA opened at $379.80 on Friday. The business’s 50-day simple moving average is $280.52 and its 200-day simple moving average is $218.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. NVIDIA has a one year low of $108.13 and a one year high of $394.80. The stock has a market capitalization of $939.29 billion, a P/E ratio of 197.81, a price-to-earnings-growth ratio of 5.31 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The business had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was down 13.2% compared to the same quarter last year. Analysts anticipate that NVIDIA will post 3.28 EPS for the current year.

Insider Activity

In other news, Director Mark L. Perry sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the completion of the sale, the director now directly owns 140,000 shares in the company, valued at $33,091,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dawn E. Hudson sold 5,000 shares of NVIDIA stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the completion of the transaction, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark L. Perry sold 20,000 shares of NVIDIA stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $236.37, for a total value of $4,727,400.00. Following the completion of the transaction, the director now owns 140,000 shares of the company’s stock, valued at $33,091,800. The disclosure for this sale can be found here. Insiders sold 54,084 shares of company stock worth $14,516,510 over the last ninety days. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. United Bank grew its stake in NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares during the period. MAS Advisors LLC boosted its stake in NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the period. Navis Wealth Advisors LLC boosted its stake in NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares during the period. Finally, Ergoteles LLC acquired a new position in NVIDIA in the first quarter valued at approximately $929,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. HSBC upgraded NVIDIA from a “reduce” rating to a “buy” rating and boosted their price target for the company from $175.00 to $355.00 in a research report on Tuesday, April 18th. Sanford C. Bernstein boosted their price target on NVIDIA from $300.00 to $475.00 in a research report on Thursday. Credit Suisse Group set a $275.00 price target on NVIDIA in a research report on Wednesday, March 22nd. BMO Capital Markets boosted their target price on NVIDIA from $350.00 to $450.00 in a research report on Thursday. Finally, Morgan Stanley boosted their target price on NVIDIA from $304.00 to $450.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $375.13.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.