NVIDIA (NASDAQ:NVDA) Trading 0.2% Higher

NVIDIA Co. (NASDAQ:NVDA) shares were up 0.2% during mid-day trading on Tuesday . The stock traded as high as $109.40 and last traded at $106.72. Approximately 105,998,047 shares changed hands during trading, a decline of 76% from the average daily volume of 439,935,063 shares. The stock had previously closed at $106.47.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVDA shares. Jefferies Financial Group lifted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Oppenheimer reiterated an “outperform” rating and set a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Mizuho raised their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. TD Cowen upped their price objective on NVIDIA from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Citigroup increased their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Up 8.1 %

The company has a market capitalization of $2.88 trillion, a P/E ratio of 68.37, a PEG ratio of 0.93 and a beta of 1.67. The company has a 50 day simple moving average of $117.74 and a two-hundred day simple moving average of $105.37. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

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

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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. Insiders sold 3,725,633 shares of company stock worth $451,910,522 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp bought a new position in NVIDIA in the first quarter worth approximately $45,000. Finally, Coston McIsaac & Partners lifted its holdings in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is owned by 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.