Fintel reports that on August 15, 2023, Baird maintained coverage of NVIDIA (NASDAQ:NVDA) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.56% Upside
As of August 1, 2023, the average one-year price target for NVIDIA is 509.98. The forecasts range from a low of 371.89 to a high of $805.35. The average price target represents an increase of 16.56% from its latest reported closing price of 437.53.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for NVIDIA is 30,001MM, an increase of 11.22%. The projected annual non-GAAP EPS is 4.40.
NVIDIA Declares $0.04 Dividend
On May 24, 2023 the company declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Shareholders of record as of June 8, 2023 received the payment on June 30, 2023. Previously, the company paid $0.04 per share.
At the current share price of $437.53 / share, the stock's dividend yield is 0.04%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.18%, the lowest has been 0.02%, and the highest has been 0.50%. The standard deviation of yields is 0.13 (n=236).
The current dividend yield is 1.11 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 5121 funds or institutions reporting positions in NVIDIA. This is an increase of 370 owner(s) or 7.79% in the last quarter. Average portfolio weight of all funds dedicated to NVDA is 1.74%, an increase of 37.36%. Total shares owned by institutions decreased in the last three months by 0.78% to 1,791,113K shares. 
The put/call ratio of NVDA is 0.94, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 72,343K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 71,043K shares, representing an increase of 1.80%. The firm increased its portfolio allocation in NVDA by 78.72% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 57,402K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 57,562K shares, representing a decrease of 0.28%. The firm increased its portfolio allocation in NVDA by 75.78% over the last quarter.
Price T Rowe Associates holds 54,724K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 56,464K shares, representing a decrease of 3.18%. The firm increased its portfolio allocation in NVDA by 37.38% over the last quarter.
Geode Capital Management holds 46,056K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 45,789K shares, representing an increase of 0.58%. The firm increased its portfolio allocation in NVDA by 76.82% over the last quarter.
Jpmorgan Chase holds 35,568K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 30,085K shares, representing an increase of 15.42%. The firm increased its portfolio allocation in NVDA by 60.60% over the last quarter.
NVIDIA Background Information
(This description is provided by the company.)
NVIDIA is the pioneer of GPU-accelerated computing. The Company specializes in products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive. Its creations are loved by the most demanding computer users in the world – gamers, designers, and scientists. And its work is at the center of the most consequential mega-trends in technology.
Additional reading:
- CFO Commentary on First Quarter Fiscal 2024 Results
- NVIDIA Announces Financial Results for First Quarter Fiscal 2024
- Variable Compensation Plan - Fiscal Year 2024
- Bylaws of NVIDIA Corporation, Amended and Restated as of
- Statement of Eligibility under the Trust Indenture Act of 1939, as amended, on Form T-1 of Computershare Trust Company, National Association, as successor trustee to Wells Fargo Bank, National Association, under the Indenture
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
