NVIDIA (NASDAQ:NVDA) Trading Up 0.2% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 0.2% on Thursday . The company traded as high as $117.76 and last traded at $115.96. Approximately 103,344,636 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 324,506,025 shares. The stock had previously closed at $115.74.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Susquehanna increased their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Truist Financial upped their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup increased their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $171.69.

NVIDIA Trading Down 0.8 %

The stock has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 45.27, a PEG ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $130.17 and a 200 day moving average of $131.31.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,110,295 shares of company stock valued at $146,698,216. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. AMF Tjanstepension AB boosted its holdings in NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. raised its position in NVIDIA by 5.0% in the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the last quarter. Colorado Capital Management Inc. grew its position in NVIDIA by 2.6% during the 3rd quarter. Colorado Capital Management Inc. now owns 5,439 shares of the computer hardware maker’s stock worth $660,000 after purchasing an additional 138 shares during the last quarter. Finally, Hoese & Co LLP raised its holdings in NVIDIA by 900.0% during the third quarter. Hoese & Co LLP now owns 720 shares of the computer hardware maker’s stock worth $87,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.