NVIDIA (NASDAQ:NVDA) Stock Price Up 2.2%

Shares of NVIDIA Co. (NASDAQ:NVDA) rose 2.2% on Wednesday . The stock traded as high as $125.39 and last traded at $125.35. Approximately 83,891,148 shares were traded during trading, a decline of 82% from the average daily volume of 477,697,156 shares. The stock had previously closed at $122.67.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. HSBC upped their target price on NVIDIA from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus increased their price target on NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a report on Monday, May 20th. Melius Research increased their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Truist Financial reiterated a “buy” rating and set a $140.00 price target (up from $128.80) on shares of NVIDIA in a report on Thursday, June 27th. Finally, UBS Group increased their price target on NVIDIA from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $126.34.

NVIDIA Stock Performance

The company has a market cap of $3.16 trillion, a price-to-earnings ratio of 75.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. The firm has a 50-day simple moving average of $108.92 and a 200 day simple moving average of $85.09. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion for 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%. The company’s revenue was up 262.1% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors 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 0.31%. The ex-dividend date of this dividend was Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is currently 2.34%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total value of $15,448,800.00. Following the sale, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total value of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Insiders have sold 1,879,590 shares of company stock valued at $334,080,785 over the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $30,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.