NVIDIA (NASDAQ:NVDA) Stock Price Down 0.6%

NVIDIA Co. (NASDAQ:NVDA)’s share price traded down 0.6% during mid-day trading on Friday . The stock traded as low as $116.71 and last traded at $117.12. 76,329,039 shares were traded during trading, a decline of 82% from the average session volume of 433,684,031 shares. The stock had previously closed at $117.87.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wolfe Research upped their price target on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Melius Research boosted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, 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 research report on Tuesday, August 6th. Five investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

The company’s 50 day moving average is $116.25 and its 200-day moving average is $106.75. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 68.09, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the completion of the sale, the chief executive officer now owns 80,574,995 shares in the company, valued at $9,736,682,395.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 transaction of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the sale, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at $9,736,682,395.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,621,133 shares of company stock worth $435,749,957. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of the company. Aveo Capital Partners LLC lifted its position in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after buying an additional 549 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after acquiring an additional 5,496 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of NVIDIA by 8.1% in the 4th quarter. Quadrant Capital Group LLC now owns 24,671 shares of the computer hardware maker’s stock valued at $12,218,000 after purchasing an additional 1,855 shares in the last quarter. Fairhaven Wealth Management LLC grew its holdings in shares of NVIDIA by 21.8% during the 4th quarter. Fairhaven Wealth Management LLC now owns 1,613 shares of the computer hardware maker’s stock valued at $799,000 after purchasing an additional 289 shares during the last quarter. Finally, Laffer Tengler Investments Inc. increased its position in NVIDIA by 2.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 1,552 shares of the computer hardware maker’s stock worth $769,000 after purchasing an additional 34 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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.