NVIDIA (NASDAQ:NVDA) Shares Gap Down to $125.61

NVIDIA Co. (NASDAQ:NVDA)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $125.61, but opened at $121.36. NVIDIA shares last traded at $122.73, with a volume of 97,182,656 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Mizuho increased their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Melius Research increased their price objective on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock has a market cap of $2.94 trillion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The company’s 50 day simple moving average is $120.25 and its 200 day simple moving average is $102.80.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Analysts expect that NVIDIA Co. will post 2.53 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, 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 document filed with the SEC, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,021,333 shares of company stock worth $599,173,182. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently modified their holdings of the stock. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in 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 buying an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.