NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) shares reached a new 52-week high on Wednesday after Phillip Securities upgraded the stock from a moderate buy rating to a strong-buy rating. The stock traded as high as $172.40 and last traded at $170.70, with a volume of 229902790 shares. The stock had previously closed at $164.07.
NVDA has been the subject of a number of other reports. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and an average target price of $181.22.
Check Out Our Latest Research Report on NVDA
Insider Transactions at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in NVDA. Montgomery Investment Management Inc. lifted its holdings in shares of NVIDIA by 15.6% during the second quarter. Montgomery Investment Management Inc. now owns 5,920 shares of the computer hardware maker's stock valued at $935,000 after purchasing an additional 800 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in NVIDIA by 4.4% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 388,633 shares of the computer hardware maker's stock worth $61,400,000 after purchasing an additional 16,368 shares during the last quarter. Wiser Wealth Management Inc increased its holdings in shares of NVIDIA by 13.2% during the 2nd quarter. Wiser Wealth Management Inc now owns 10,751 shares of the computer hardware maker's stock valued at $1,699,000 after acquiring an additional 1,253 shares during the last quarter. Brookmont Capital Management increased its holdings in shares of NVIDIA by 3.1% during the 2nd quarter. Brookmont Capital Management now owns 8,689 shares of the computer hardware maker's stock valued at $1,373,000 after acquiring an additional 259 shares during the last quarter. Finally, EWA LLC increased its holdings in shares of NVIDIA by 16.4% during the 2nd quarter. EWA LLC now owns 53,196 shares of the computer hardware maker's stock valued at $8,404,000 after acquiring an additional 7,504 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Price Performance
The stock has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The stock has a fifty day simple moving average of $146.99 and a 200-day simple moving average of $129.90. 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 quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates 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 in the prior year, the business posted $0.61 EPS. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.
NVIDIA Company Profile
(
Get Free Report)
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.
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