NVIDIA (NASDAQ:NVDA) Shares Up 1.8% - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares rose 1.8% on Friday . The stock traded as high as $108.51 and last traded at $108.31. Approximately 68,658,074 shares were traded during trading, a decline of 78% from the average daily volume of 305,397,955 shares. The stock had previously closed at $106.43.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. DA Davidson decreased their target price on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Summit Insights lowered shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Barclays lowered their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Trading Up 4.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $2.71 trillion, a P/E ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The business's 50-day moving average price is $113.21 and its 200 day moving average price is $128.99.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction dated 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 $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. Corporate insiders own 4.23% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. SOA Wealth Advisors LLC. increased its stake in shares of NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB lifted its stake in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of NVIDIA by 13.2% during the 3rd quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker's stock valued at $667,278,000 after purchasing an additional 640,840 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock worth $4,326,576,000 after purchasing an additional 1,285,897 shares during the last quarter. Finally, Delta Financial Advisors LLC lifted its position in shares of NVIDIA by 0.6% in the third quarter. Delta Financial Advisors LLC now owns 82,969 shares of the computer hardware maker's stock worth $10,076,000 after buying an additional 485 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other 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.