NVIDIA (NASDAQ:NVDA) Stock Price Up 0.5% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) rose 0.5% on Friday . The stock traded as high as $110.69 and last traded at $108.08. Approximately 103,207,436 shares traded hands during trading, a decline of 67% from the average daily volume of 314,430,031 shares. The stock had previously closed at $107.57.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $168.26.

NVIDIA Price Performance

The firm's 50-day moving average is $118.95 and its 200-day moving average is $130.40. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.70 trillion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA's payout ratio is currently 1.36%.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. Hickory Point Bank & Trust purchased a new position in NVIDIA in the 4th quarter worth about $2,272,000. Capital Performance Advisors LLP grew its stake in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the period. Ethos Financial Group LLC raised its holdings in shares of NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after purchasing an additional 6,241 shares during the last quarter. Metis Global Partners LLC lifted its position in NVIDIA by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock valued at $196,711,000 after purchasing an additional 50,978 shares during the period. Finally, Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.