NVIDIA (NASDAQ:NVDA) Reaches New 1-Year High at $504.95

NVIDIA Co. (NASDAQ:NVDA) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $504.95 and last traded at $504.74, with a volume of 31908540 shares. The stock had previously closed at $492.98.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of NVIDIA from $450.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 21st. Evercore ISI lifted their price target on shares of NVIDIA to $600.00 in a report on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Jefferies Financial Group lifted their price target on shares of NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Benchmark lifted their price target on shares of NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.49.

NVIDIA Stock Up 2.2 %

The firm has a market cap of $1.24 trillion, a PE ratio of 119.08, a PEG ratio of 3.80 and a beta of 1.69. The business’s 50 day moving average price is $444.17 and its 200 day moving average price is $424.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 9.66 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 3.86%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Colette Kress sold 4,980 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds have recently made changes to their positions in the company. PCA Investment Advisory Services Inc. boosted its position in NVIDIA by 2.5% during the 3rd quarter. PCA Investment Advisory Services Inc. now owns 857 shares of the computer hardware maker’s stock worth $373,000 after acquiring an additional 21 shares during the last quarter. Lineweaver Wealth Advisors LLC raised its stake in shares of NVIDIA by 0.9% during the 2nd quarter. Lineweaver Wealth Advisors LLC now owns 2,432 shares of the computer hardware maker’s stock worth $1,029,000 after purchasing an additional 22 shares in the last quarter. Family Legacy Inc. raised its stake in shares of NVIDIA by 4.1% during the 3rd quarter. Family Legacy Inc. now owns 554 shares of the computer hardware maker’s stock worth $241,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC raised its stake in shares of NVIDIA by 0.3% during the 3rd quarter. Eagle Strategies LLC now owns 7,324 shares of the computer hardware maker’s stock worth $3,186,000 after purchasing an additional 22 shares in the last quarter. Finally, BCM Advisors LLC raised its stake in shares of NVIDIA by 0.8% during the 2nd quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock worth $1,390,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.