NVIDIA (NASDAQ:NVDA) Shares Up 0.6%

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 0.6% during mid-day trading on Tuesday . The company traded as high as $118.80 and last traded at $117.52. 67,244,445 shares were traded during mid-day trading, a decline of 85% from the average session volume of 436,232,719 shares. The stock had previously closed at $116.78.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Monday, August 19th. Robert W. Baird raised their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm’s 50 day moving average price is $116.45 and its two-hundred day moving average price is $106.68. The firm has a market cap of $2.79 trillion, a price-to-earnings ratio of 66.30, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal 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 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 yield of 0.04%. NVIDIA’s payout ratio is currently 2.34%.

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

Insider Activity

In related news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the sale, the chief financial officer now owns 5,288,862 shares in the company, valued at $671,632,585.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the sale, the chief financial officer now directly owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 3,725,633 shares of company stock valued at $449,025,722 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently modified their holdings of NVDA. Sensible Money LLC boosted its position in NVIDIA by 639.4% during the second quarter. Sensible Money LLC now owns 4,407 shares of the computer hardware maker’s stock worth $544,000 after purchasing an additional 3,811 shares in the last quarter. University of Texas Texas AM Investment Management Co. increased its stake in shares of NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Verity & Verity LLC increased its position in NVIDIA by 814.6% during the second quarter. Verity & Verity LLC now owns 4,070 shares of the computer hardware maker’s stock worth $503,000 after buying an additional 3,625 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its holdings in shares of NVIDIA by 900.0% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 89,000 shares of the computer hardware maker’s stock worth $10,995,000 after acquiring an additional 80,100 shares during the last quarter. Finally, American Trust boosted its stake in shares of NVIDIA by 749.8% during the second quarter. American Trust now owns 29,549 shares of the computer hardware maker’s stock valued at $3,650,000 after acquiring an additional 26,072 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.