NVIDIA (NASDAQ:NVDA) Shares Up 1.8%

NVIDIA Co. (NASDAQ:NVDA)’s stock price shot up 1.8% during mid-day trading on Friday . The stock traded as high as $127.71 and last traded at $126.24. 97,432,517 shares changed hands during trading, a decline of 80% from the average session volume of 482,818,063 shares. The stock had previously closed at $123.99.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Bank of America lifted their price objective on NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Craig Hallum lifted their price objective on NVIDIA from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Truist Financial reissued a “buy” rating and issued a $140.00 price objective (up from $128.80) on shares of NVIDIA in a research report on Thursday. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective for the company. in a research report on Friday, May 24th. Finally, Melius Research lifted their price objective on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

NVIDIA Price Performance

The business’s fifty day simple moving average is $104.51 and its 200-day simple moving average is $82.41. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.05 trillion, a P/E ratio of 73.82, a PEG ratio of 1.33 and a beta of 1.70.

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 analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 262.1% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,188,862 shares in the company, valued at $627,073,972.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,746,590 shares of company stock valued at $309,332,104. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Quent Capital LLC boosted its position in NVIDIA by 3.2% during the first quarter. Quent Capital LLC now owns 14,445 shares of the computer hardware maker’s stock valued at $13,053,000 after buying an additional 453 shares during the period. Sensible Money LLC boosted its position in NVIDIA by 41.6% during the first quarter. Sensible Money LLC now owns 596 shares of the computer hardware maker’s stock valued at $538,000 after buying an additional 175 shares during the period. HM Payson & Co. boosted its position in NVIDIA by 97.1% during the first quarter. HM Payson & Co. now owns 152,416 shares of the computer hardware maker’s stock valued at $137,717,000 after buying an additional 75,086 shares during the period. Keynote Financial Services LLC bought a new position in shares of NVIDIA during the first quarter valued at about $262,000. Finally, Jackson Wealth Management LLC bought a new position in shares of NVIDIA during the first quarter valued at about $3,023,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.