NVIDIA (NASDAQ:NVDA) Trading 0.7% Higher

NVIDIA Co. (NASDAQ:NVDA) rose 0.7% on Wednesday . The company traded as high as $109.17 and last traded at $108.75. Approximately 151,193,000 shares changed hands during trading, a decline of 66% from the average daily volume of 442,581,188 shares. The stock had previously closed at $108.00.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Tigress Financial raised their price objective on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Needham & Company LLC upped their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.14. The stock has a market capitalization of $2.64 trillion, a P/E ratio of 62.70, a PEG ratio of 1.24 and a beta of 1.67. The stock’s fifty day moving average is $119.03 and its 200-day moving average is $104.17.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.6 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be 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 of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total transaction of $18,063,000.00. Following the completion of the transaction, the director now owns 9,846,240 shares of the company’s stock, valued at approximately $1,185,684,220.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total transaction of $18,063,000.00. Following the transaction, the director now owns 9,846,240 shares in the company, valued at approximately $1,185,684,220.80. The disclosure for this sale can be found here. Insiders sold 3,755,633 shares of company stock worth $459,889,922 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at about $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.