NVIDIA (NASDAQ:NVDA) Trading 0.7% Higher

NVIDIA Co. (NASDAQ:NVDA) shares were up 0.7% during mid-day trading on Wednesday . The stock traded as high as $109.17 and last traded at $108.75. Approximately 151,193,000 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 442,581,188 shares. The stock had previously closed at $108.00.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NVDA shares. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Evercore ISI boosted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Argus boosted their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Up 0.9 %

The stock has a market capitalization of $2.67 trillion, a price-to-earnings ratio of 63.60, a PEG ratio of 1.24 and a beta of 1.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.14 and a current ratio of 4.27. The company’s 50 day moving average is $119.77 and its 200 day moving average is $104.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 2.6 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold 3,615,633 shares of company stock worth $551,772,122 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Company Profile

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.