NVIDIA (NASDAQ:NVDA) Trading Up 3.8%

NVIDIA Co. (NASDAQ:NVDA) shares were up 3.8% during trading on Thursday . The stock traded as high as $102.88 and last traded at $102.71. Approximately 138,351,922 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 454,093,563 shares. The stock had previously closed at $98.91.

Wall Street Analyst Weigh In

Several analysts have recently commented on NVDA shares. Stifel Nicolaus raised their price target on NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a report on Monday, May 20th. Needham & Company LLC lifted their price objective on NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. TD Cowen boosted their target price on NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their target price on NVIDIA from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Truist Financial reiterated a “buy” rating and set a $140.00 target price (up from $128.80) on shares of NVIDIA in a research report on Thursday, June 27th. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.31.

NVIDIA Price Performance

The company has a market cap of $2.58 trillion, a PE ratio of 61.26, a P/E/G ratio of 1.15 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The company has a 50-day moving average price of $120.86 and a two-hundred day moving average price of $97.12.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the sale, the director now directly owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The disclosure for this sale can be found here. Insiders have sold a total of 4,200,723 shares of company stock valued at $619,414,541 in the last quarter. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Alliance boosted its stake in NVIDIA by 881.1% during the 2nd quarter. Wealth Alliance now owns 74,591 shares of the computer hardware maker’s stock valued at $9,215,000 after purchasing an additional 66,988 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in NVIDIA by 917.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 721,809 shares of the computer hardware maker’s stock valued at $89,172,000 after purchasing an additional 650,898 shares in the last quarter. DecisionPoint Financial LLC boosted its stake in shares of NVIDIA by 1,093.6% during the 2nd quarter. DecisionPoint Financial LLC now owns 2,232 shares of the computer hardware maker’s stock worth $261,000 after acquiring an additional 2,045 shares in the last quarter. Financial & Tax Architects LLC boosted its stake in shares of NVIDIA by 835.6% during the 2nd quarter. Financial & Tax Architects LLC now owns 34,262 shares of the computer hardware maker’s stock worth $4,233,000 after acquiring an additional 30,600 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of NVIDIA by 873.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 3,233,107 shares of the computer hardware maker’s stock worth $399,418,000 after acquiring an additional 2,901,050 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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.