NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price traded up 1.7% during trading on Thursday . The stock traded as high as $109.65 and last traded at $108.01. 131,290,156 shares changed hands during 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
A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 18th. Oppenheimer restated an "outperform" rating and issued a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Truist Financial increased their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, August 27th. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 29th. Finally, TD Cowen increased their target price on shares of NVIDIA from $140.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.10.
Read Our Latest Stock Analysis on NVIDIA
NVIDIA Stock Up 0.9 %
The company has a fifty day simple moving average of $119.03 and a 200-day simple moving average of $104.17. The company has a quick ratio of 3.14, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.64 trillion, a P/E ratio of 62.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business's quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Co. will post 2.6 earnings per share for the current year.
NVIDIA Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA's dividend payout ratio (DPR) is currently 2.34%.
NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the sale, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Tench Coxe sold 100,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now directly owns 2,967,136 shares of the company's stock, valued at $3,544,451,651.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,855,633 shares of company stock worth $579,346,922. 4.23% of the stock is owned by insiders.
Institutional Trading of NVIDIA
Several institutional investors have recently bought and sold shares of NVDA. Hamilton Wealth LLC grew its position in shares of NVIDIA by 0.3% in the 1st 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 during the period. Brooklyn FI LLC grew its position in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker's stock valued at $442,000 after acquiring an additional 12 shares during the period. Curran Financial Partners LLC grew its position in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock valued at $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC grew its position 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 valued at $428,000 after acquiring an additional 12 shares during the period. Finally, M. Kraus & Co grew its position in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker's stock valued at $594,000 after acquiring an additional 13 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.
NVIDIA Company Profile
(
Get Free Report)
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.
See Also
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
