Fintel reports that on August 24, 2023, JP Morgan maintained coverage of NVIDIA (NASDAQ:NVDA) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.24% 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 8.24% from its latest reported closing price of 471.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for NVIDIA is 30,001MM, a decrease of 8.20%. 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 $471.16 / share, the stock's dividend yield is 0.03%.
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 1.12 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.04. 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 5206 funds or institutions reporting positions in NVIDIA. This is an increase of 356 owner(s) or 7.34% in the last quarter. Average portfolio weight of all funds dedicated to NVDA is 1.81%, an increase of 34.99%. Total shares owned by institutions increased in the last three months by 0.95% to 1,798,118K shares. 
The put/call ratio of NVDA is 0.99, 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 36.66% over the last quarter.
Geode Capital Management holds 47,459K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 46,056K shares, representing an increase of 2.96%. The firm increased its portfolio allocation in NVDA by 41.95% 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 1,179.04% 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 Second Quarter Fiscal 2024 Results
- NVIDIA Announces Financial Results for Second Quarter Fiscal 2024
- CFO Commentary on First Quarter Fiscal 2024 Results
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