NVIDIA (NASDAQ:NVDA) Shares Up 1.7%

NVIDIA Co. (NASDAQ:NVDA) traded up 1.7% during mid-day trading on Thursday . The stock traded as high as $109.65 and last traded at $108.01. 131,290,156 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 441,923,313 shares. The stock had previously closed at $106.21.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVDA shares. KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, August 6th. Wolfe Research increased their price objective on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Down 4.1 %

The business has a 50-day moving average price of $118.61 and a 200 day moving average price of $104.38. The company has a current ratio of 4.27, a quick ratio of 3.14 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.53 trillion, a P/E ratio of 60.13, a P/E/G ratio of 1.24 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.6 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value 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 approximately $7,694,851,450.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,875,633 shares of company stock worth $472,782,722. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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