NVIDIA (NASDAQ:NVDA) Hits New 52-Week High - What's Next?

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial increased 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. Oppenheimer reissued an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Rosenblatt Securities raised their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. TD Cowen raised their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $176.47.

NVIDIA Stock Performance

The firm has a market capitalization of $3.97 trillion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13. The company has a 50-day moving average of $138.39 and a 200-day moving average of $128.20. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, Director A Brooke Seawell sold 50,514 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the completion of the transaction, the director directly owned 1,974,784 shares in the company, valued at approximately $312,746,542.08. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the sale, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,296,844 shares of company stock valued at $624,019,677. 4.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently bought and sold shares of the business. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the fourth quarter worth $38,000. Kathleen S. Wright Associates Inc. raised its stake in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after acquiring an additional 254 shares during the period. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter worth about $50,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the 1st quarter worth about $51,000. Hedge funds and other 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.