NVIDIA (NASDAQ:NVDA) Trading Up 1.4%

NVIDIA Co. (NASDAQ:NVDA) was up 1.4% during mid-day trading on Thursday . The stock traded as high as $127.67 and last traded at $125.23. Approximately 103,667,633 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 431,108,500 shares. The stock had previously closed at $123.51.

Analyst Ratings Changes

Several analysts recently issued reports on NVDA shares. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI lifted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Truist Financial lifted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Mizuho lifted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company raised their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Down 0.6 %

The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.01 trillion, a PE ratio of 73.23, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The stock has a fifty day simple moving average of $115.75 and a two-hundred day simple moving average of $107.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. 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 2.34%.

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the business’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 value of $50,334,900.00. Following the completion of 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. Over the last 90 days, insiders sold 4,352,303 shares of company stock valued at $521,745,907. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently bought and sold shares of the company. Hamilton Wealth LLC lifted its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after buying an additional 9 shares during the last quarter. Brooklyn FI LLC lifted its position in NVIDIA by 2.5% in the first 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 during the last quarter. Curran Financial Partners LLC lifted its position in NVIDIA by 1.8% in the first 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 during the last quarter. Beacon Bridge Wealth Partners LLC lifted its position in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its position in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the last quarter. 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.