NVIDIA (NASDAQ:NVDA) Stock Price Up 3.3% - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) was up 3.3% during trading on Wednesday . The stock traded as high as $101.18 and last traded at $99.44. Approximately 141,700,443 shares were traded during trading, a decline of 55% from the average daily volume of 314,130,606 shares. The stock had previously closed at $96.30.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $220.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Bank of America restated a "buy" rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Barclays increased their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Wedbush reaffirmed an "outperform" rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $168.39.

NVIDIA Price Performance

The firm has a market cap of $2.71 trillion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The business has a 50-day simple moving average of $118.95 and a 200 day simple moving average of $130.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. On average, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last quarter. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. Perkins Coie Trust Co lifted its stake in shares of NVIDIA by 14.2% in the first quarter. Perkins Coie Trust Co now owns 49,619 shares of the computer hardware maker's stock worth $5,378,000 after buying an additional 6,180 shares in the last quarter. Godsey & Gibb Inc. lifted its position in NVIDIA by 29.8% in the 1st quarter. Godsey & Gibb Inc. now owns 13,777 shares of the computer hardware maker's stock valued at $1,493,000 after acquiring an additional 3,161 shares in the last quarter. Joule Financial LLC boosted its stake in NVIDIA by 14.2% during the 1st quarter. Joule Financial LLC now owns 2,263 shares of the computer hardware maker's stock valued at $245,000 after purchasing an additional 282 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of NVIDIA by 4.5% in the first quarter. Princeton Global Asset Management LLC now owns 22,327 shares of the computer hardware maker's stock worth $2,420,000 after purchasing an additional 970 shares during the last quarter. Finally, Intergy Private Wealth LLC lifted its holdings in shares of NVIDIA by 2.7% during the first quarter. Intergy Private Wealth LLC now owns 8,296 shares of the computer hardware maker's stock valued at $899,000 after purchasing an additional 215 shares in the last quarter. 65.27% of the stock is currently 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.