NVIDIA (NASDAQ:NVDA) Hits New 12-Month High - Here's What Happened

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $164.42 and last traded at $163.13, with a volume of 48101864 shares traded. The stock had previously closed at $160.00.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Loop Capital boosted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Barclays boosted their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Truist Financial boosted their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Susquehanna reiterated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Stock Up 1.5%

The company's fifty day moving average price is $140.52 and its 200-day moving average price is $128.60. The stock has a market cap of $4.06 trillion, a P/E ratio of 53.75, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. Equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 49,131 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the sale, the director owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the completion of the sale, the chief executive officer owned 74,873,225 shares of the company's stock, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 in the last quarter. 4.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Wealth Group Ltd. boosted its holdings in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA in the 4th quarter valued at $972,000. Capital & Planning LLC boosted its holdings in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after acquiring an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after acquiring an additional 104 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Company Profile

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.