NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s share price rose 2.2% during trading on Tuesday after Truist Financial raised their price target on the stock from $148.00 to $167.00. Truist Financial currently has a buy rating on the stock. NVIDIA traded as high as $143.55 and last traded at $143.21. Approximately 61,870,512 shares were traded during trading, a decline of 84% from the average daily volume of 397,287,563 shares. The stock had previously closed at $140.15.
NVDA has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on NVIDIA from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, August 29th. Stifel Nicolaus increased their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a "buy" rating and a $178.00 target price for the company. Finally, DA Davidson reissued a "neutral" rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $154.63.
Read Our Latest Stock Report on NVIDIA
Insider Activity at NVIDIA
In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company's stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On NVIDIA
Institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. lifted its position in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock worth $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. boosted its position in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in shares of NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker's stock valued at $65,758,000 after purchasing an additional 488,148 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.
NVIDIA Price Performance
The business has a fifty day moving average price of $132.42 and a 200 day moving average price of $121.37. The company has a market cap of $3.61 trillion, a price-to-earnings ratio of 69.02, a PEG ratio of 1.49 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm's quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current year.
NVIDIA Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is presently 1.88%.
NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
About NVIDIA
(
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.
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