NVIDIA (NASDAQ:NVDA) Shares Up 0.6%

NVIDIA Co. (NASDAQ:NVDA) traded up 0.6% during trading on Wednesday . The stock traded as high as $111.93 and last traded at $108.75. 107,750,039 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 439,031,500 shares. The stock had previously closed at $108.10.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. Melius Research lifted their price target on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Robert W. Baird upped their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $117.97 and its two-hundred day moving average price is $105.29. The firm has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 63.60, a P/E/G ratio of 0.93 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business earned $0.25 EPS. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend 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 currently 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, 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. In the last ninety days, insiders have sold 3,845,633 shares of company stock valued at $467,359,322. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter worth about $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.