NVIDIA (NASDAQ:NVDA) Shares Down 0.4%

NVIDIA Co. (NASDAQ:NVDA) shares were down 0.4% during trading on Thursday . The company traded as low as $116.31 and last traded at $116.50. Approximately 111,356,727 shares traded hands during trading, a decline of 75% from the average daily volume of 453,173,063 shares. The stock had previously closed at $117.02.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NVDA shares. Argus upped their price objective on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Sanford C. Bernstein raised their target price on NVIDIA from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Barclays decreased their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 10th. JPMorgan Chase & Co. raised their target price on NVIDIA from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group raised their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Six research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.59.

NVIDIA Stock Down 7.8 %

The firm has a 50-day moving average price of $121.57 and a two-hundred day moving average price of $95.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The company has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 68.13, a PEG ratio of 1.09 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same period last year, the firm posted $0.09 earnings per share. The business’s revenue was up 262.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Transactions at NVIDIA

In other news, Director Dawn E. Hudson sold 150,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the director now owns 555,000 shares in the company, valued at $58,785,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the firm’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 transaction, the director now 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 available through this hyperlink. Also, Director Dawn E. Hudson sold 150,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the director now directly owns 555,000 shares in the company, valued at approximately $58,785,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,840,723 shares of company stock worth $581,410,541. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Crestwood Advisors Group LLC lifted its holdings in NVIDIA by 1,304.8% during the 2nd quarter. Crestwood Advisors Group LLC now owns 298,301 shares of the computer hardware maker’s stock worth $36,852,000 after buying an additional 277,067 shares during the period. Cypress Funds LLC raised its position in shares of NVIDIA by 271.9% in the 2nd quarter. Cypress Funds LLC now owns 557,870 shares of the computer hardware maker’s stock worth $68,919,000 after acquiring an additional 407,870 shares in the last quarter. FFT Wealth Management LLC raised its position in shares of NVIDIA by 1,087.7% in the 2nd quarter. FFT Wealth Management LLC now owns 24,717 shares of the computer hardware maker’s stock worth $3,054,000 after acquiring an additional 22,636 shares in the last quarter. Augustine Asset Management Inc. raised its position in shares of NVIDIA by 904.2% in the 2nd quarter. Augustine Asset Management Inc. now owns 9,470 shares of the computer hardware maker’s stock worth $1,170,000 after acquiring an additional 8,527 shares in the last quarter. Finally, LGL Partners LLC raised its position in shares of NVIDIA by 2,024.7% in the 2nd quarter. LGL Partners LLC now owns 10,475 shares of the computer hardware maker’s stock worth $1,294,000 after acquiring an additional 9,982 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.