NVIDIA (NASDAQ:NVDA) Stock Price Up 1.6%

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 1.6% during trading on Thursday . The stock traded as high as $856.60 and last traded at $843.43. Approximately 14,483,698 shares changed hands during trading, a decline of 72% from the average daily volume of 51,401,750 shares. The stock had previously closed at $830.41.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. Truist Financial raised their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research note on Monday, March 18th. CICC Research initiated coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Argus raised their target price on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Bank of America raised their target price on shares of NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market cap of $2.13 trillion, a price-to-earnings ratio of 70.64, a PEG ratio of 1.24 and a beta of 1.75. The firm’s 50-day simple moving average is $863.93 and its two-hundred day simple moving average is $644.83.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. On average, sell-side analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in NVIDIA by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock worth $101,276,242,000 after acquiring an additional 827,377 shares during the last quarter. Norges Bank bought a new position in NVIDIA in the fourth quarter valued at approximately $14,606,369,000. Northern Trust Corp lifted its stake in NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NVIDIA by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the last quarter. 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.