NVIDIA (NASDAQ:NVDA) Trading 2.4% Higher - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shot up 2.4% on Tuesday . The company traded as high as $99.38 and last traded at $99.28. 70,168,837 shares changed hands during trading, a decline of 77% from the average session volume of 308,756,136 shares. The stock had previously closed at $96.91.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. TD Cowen lowered their target price on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an "overweight" rating in a report on Wednesday, March 19th. KeyCorp set a $190.00 price target on NVIDIA in a research note on Wednesday, March 19th. Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Six research 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $165.01.

NVIDIA Stock Up 1.5 %

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average is $113.77 and its 200 day moving average is $129.16. The stock has a market cap of $2.64 trillion, a P/E ratio of 42.60, a P/E/G ratio of 1.76 and a beta of 1.96.

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

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently made changes to their positions in the company. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the fourth quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 4th quarter worth about $46,000. Institutional investors own 65.27% of the company's stock.

About NVIDIA

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.