NVIDIA Co. (NVDA) Announces Dividend Increase – $0.16 Per Share

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NVIDIA Co. (NASDAQ:NVDA) announced a quarterly dividend on Thursday, November 15th, RTT News reports. Stockholders of record on Friday, November 30th will be given a dividend of 0.16 per share by the computer hardware maker on Friday, December 21st. This represents a $0.64 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Thursday, November 29th. This is a boost from NVIDIA’s previous quarterly dividend of $0.15.

NVIDIA has increased its dividend by an average of 18.8% per year over the last three years and has increased its dividend every year for the last 5 years. NVIDIA has a dividend payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NVIDIA to earn $6.37 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 10.0%.

Shares of NVDA traded up $8.05 during trading hours on Monday, hitting $153.05. 20,328,534 shares of the company were exchanged, compared to its average volume of 13,409,984. The firm has a market cap of $88.45 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.11 and a beta of 2.01. NVIDIA has a fifty-two week low of $133.31 and a fifty-two week high of $292.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.20 and a current ratio of 7.08.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.06). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. NVIDIA had a return on equity of 51.60% and a net margin of 37.78%. On average, research analysts predict that NVIDIA will post 6.45 earnings per share for the current fiscal year.

In other NVIDIA news, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the transaction, the executive vice president now directly owns 184,001 shares in the company, valued at $53,240,689.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Byron sold 11,257 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the transaction, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The disclosure for this sale can be found here. Insiders sold 113,707 shares of company stock valued at $32,347,973 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

A hedge fund recently raised its stake in NVIDIA stock. Cornerstone Advisors Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,835 shares of the computer hardware maker’s stock after purchasing an additional 511 shares during the quarter. Cornerstone Advisors Inc.’s holdings in NVIDIA were worth $672,000 as of its most recent SEC filing. 66.12% of the stock is owned by institutional investors.

Several research firms have recently issued reports on NVDA. BidaskClub lowered NVIDIA from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Monday. B. Riley reissued a “neutral” rating and set a $190.00 target price (down from $240.00) on shares of NVIDIA in a report on Friday, November 16th. Wells Fargo & Co reduced their target price on NVIDIA from $315.00 to $235.00 and set an “outperform” rating on the stock in a report on Friday, November 16th. Finally, Raymond James reduced their target price on NVIDIA from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the company’s stock. NVIDIA has a consensus rating of “Buy” and an average target price of $260.18.

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NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Dividend History for NVIDIA (NASDAQ:NVDA)

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