NVIDIA (NASDAQ:NVDA) Trading Up 2.9%

NVIDIA Co. (NASDAQ:NVDA)’s share price traded up 2.9% on Wednesday . The stock traded as high as $124.94 and last traded at $124.36. 101,460,898 shares changed hands during trading, a decline of 77% from the average session volume of 431,888,031 shares. The stock had previously closed at $120.87.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. Morgan Stanley raised their price target on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird boosted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Finally, Citigroup lifted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Up 1.9 %

The firm has a market capitalization of $3.02 trillion, a P/E ratio of 72.73, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The stock’s 50-day simple moving average is $115.64 and its two-hundred day simple moving average is $107.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has authorized a share buyback 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated 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 $7,694,851,450.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,352,303 shares of company stock worth $521,745,907. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Hamilton Wealth LLC increased its holdings in shares of NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC increased its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC increased its holdings in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its stake in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares during the period. Finally, M. Kraus & Co grew its stake in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.