NVIDIA (NASDAQ:NVDA) Shares Up 4.6%

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 4.6% during trading on Thursday . The company traded as high as $128.28 and last traded at $128.28. Approximately 215,748,955 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 355,204,160 shares. The stock had previously closed at $122.67.

Analyst Ratings Changes

A number of analysts have commented on NVDA shares. KeyCorp increased their price objective on shares of NVIDIA from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Evercore ISI increased their price target on shares of NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Piper Sandler increased their price objective on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Wedbush raised their price target on shares of NVIDIA from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.34.

NVIDIA Trading Up 4.6 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The business’s 50-day simple moving average is $108.92 and its 200-day simple moving average is $85.09. The company has a market cap of $3.16 trillion, a price-to-earnings ratio of 75.02, a PEG ratio of 1.29 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. Research analysts predict that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.10 dividend. The ex-dividend date was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. NVIDIA’s dividend payout ratio is 2.34%.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now directly owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 10,521,330 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,106,590 shares of company stock worth $354,056,104. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVDA. Kennedy Capital Management LLC lifted its position in NVIDIA by 34.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 10,756 shares of the computer hardware maker’s stock valued at $4,679,000 after purchasing an additional 2,775 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of NVIDIA by 1.6% during the third quarter. Royal London Asset Management Ltd. now owns 1,812,067 shares of the computer hardware maker’s stock valued at $788,104,000 after acquiring an additional 28,664 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in shares of NVIDIA by 56.3% during the third quarter. Industrial Alliance Investment Management Inc. now owns 3,230 shares of the computer hardware maker’s stock valued at $1,405,000 after acquiring an additional 1,164 shares during the period. Old North State Trust LLC raised its holdings in shares of NVIDIA by 4.5% during the third quarter. Old North State Trust LLC now owns 4,296 shares of the computer hardware maker’s stock valued at $1,869,000 after acquiring an additional 186 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of NVIDIA by 157.0% during the third quarter. GSA Capital Partners LLP now owns 13,804 shares of the computer hardware maker’s stock valued at $6,005,000 after acquiring an additional 8,433 shares during the period. 65.27% of the stock is currently owned by institutional investors.

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.