NVIDIA (NASDAQ:NVDA) Trading 2.6% Higher - Time to Buy?

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) were up 2.6% on Wednesday . The company traded as high as $156.87 and last traded at $157.29. Approximately 58,364,308 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 267,817,143 shares. The stock had previously closed at $153.30.

Analyst Ratings Changes

A number of analysts recently commented on NVDA shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.19.

NVIDIA Stock Performance

The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $136.38 and a 200 day moving average of $127.84. The firm has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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). 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 last year, the firm earned $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the completion of the sale, the chief executive officer owned 75,323,225 shares of the company's stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last 90 days. Insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GSB Wealth Management LLC raised its position in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC raised its position in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc raised its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust bought a new position in NVIDIA during the 4th quarter valued at approximately $2,272,000. Finally, BTC Capital Management Inc. raised its position in NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after purchasing an additional 7,476 shares during the last quarter. 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.