NVIDIA (NASDAQ:NVDA) Stock Price Up 1.3%

NVIDIA Co. (NASDAQ:NVDA)’s share price traded up 1.3% during trading on Monday . The stock traded as high as $116.28 and last traded at $114.52. 74,851,570 shares were traded during mid-day trading, a decline of 84% from the average session volume of 453,970,688 shares. The stock had previously closed at $113.06.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Needham & Company LLC increased their target price on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group increased their target price on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Benchmark increased their target price on NVIDIA from $135.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Piper Sandler raised their price objective on NVIDIA from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Susquehanna raised their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. Six equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $131.59.

NVIDIA Stock Down 1.0 %

The stock has a fifty day moving average of $120.63 and a 200 day moving average of $94.20. The firm has a market capitalization of $2.75 trillion, a P/E ratio of 66.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s revenue was up 262.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is presently 2.34%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction 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 directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,720,723 shares of company stock worth $567,785,741. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.