NVIDIA (NASDAQ:NVDA) Trading 10.2% Higher

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 10.2% during trading on Wednesday . The stock traded as high as $115.73 and last traded at $114.30. Approximately 137,184,766 shares traded hands during trading, a decline of 70% from the average daily volume of 453,212,969 shares. The stock had previously closed at $103.73.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. Melius Research lifted their target price on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Evercore ISI boosted their price objective on NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price target on shares of NVIDIA in a research note on Thursday, May 23rd. Argus increased their price objective 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. Finally, Cantor Fitzgerald boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Six 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 company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $131.59.

NVIDIA Price Performance

The firm has a market cap of $2.88 trillion, a P/E ratio of 66.84, a PEG ratio of 1.17 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. The company’s 50-day moving average is $121.13 and its two-hundred day moving average is $94.94.

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

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is 2.34%.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the sale, the chief financial officer now directly owns 5,288,862 shares in the company, valued at $671,632,585.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,840,723 shares of company stock valued at $581,410,541. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently made changes to their positions in NVDA. Aurora Private Wealth Inc. boosted its holdings in shares of NVIDIA by 20.4% during the 4th quarter. Aurora Private Wealth Inc. now owns 2,196 shares of the computer hardware maker’s stock worth $1,088,000 after buying an additional 372 shares in the last quarter. Blackston Financial Advisory Group LLC bought a new stake in NVIDIA in the fourth quarter valued at $264,000. Ellsworth Advisors LLC raised its holdings in shares of NVIDIA by 0.6% during the fourth quarter. Ellsworth Advisors LLC now owns 5,692 shares of the computer hardware maker’s stock valued at $2,819,000 after purchasing an additional 34 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of NVIDIA by 1.5% during the 4th quarter. SeaCrest Wealth Management LLC now owns 43,933 shares of the computer hardware maker’s stock worth $21,570,000 after purchasing an additional 669 shares in the last quarter. Finally, Syntegra Private Wealth Group LLC grew its stake in shares of NVIDIA by 11.8% in the 4th quarter. Syntegra Private Wealth Group LLC now owns 2,131 shares of the computer hardware maker’s stock valued at $1,055,000 after buying an additional 225 shares during the period. Institutional investors own 65.27% of the company’s stock.

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.