NVIDIA (NASDAQ:NVDA) Trading 0.2% Higher

NVIDIA Co. (NASDAQ:NVDA)’s share price shot up 0.2% during trading on Tuesday . The stock traded as high as $109.40 and last traded at $106.72. Approximately 105,998,047 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 439,935,063 shares. The stock had previously closed at $106.47.

Analyst Ratings Changes

Several analysts have issued reports on NVDA shares. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Argus increased their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Wolfe Research boosted their price target on shares of NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Finally, Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

The company has a market cap of $2.63 trillion, a P/E ratio of 62.41, a P/E/G ratio of 0.93 and a beta of 1.67. The business has a fifty day moving average of $118.26 and a 200 day moving average of $105.08. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction 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 sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 of the company’s stock, valued at $7,694,851,450.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold 3,725,633 shares of company stock valued at $454,719,722 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVDA. Prio Wealth Limited Partnership raised its position in NVIDIA by 774.6% in the 2nd quarter. Prio Wealth Limited Partnership now owns 1,495,432 shares of the computer hardware maker’s stock worth $184,746,000 after buying an additional 1,324,452 shares during the last quarter. Brightwater Advisory LLC bought a new stake in shares of NVIDIA in the second quarter worth approximately $862,000. Heritage Wealth Management Inc. bought a new position in NVIDIA during the second quarter valued at approximately $3,253,000. Lazari Capital Management Inc. boosted its holdings in NVIDIA by 957.9% in the second quarter. Lazari Capital Management Inc. now owns 76,181 shares of the computer hardware maker’s stock worth $9,411,000 after purchasing an additional 68,980 shares during the last quarter. Finally, Cim LLC grew its position in NVIDIA by 766.8% in the 2nd quarter. Cim LLC now owns 275,540 shares of the computer hardware maker’s stock worth $34,040,000 after purchasing an additional 243,751 shares during the period. 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.