NVIDIA (NASDAQ:NVDA) Shares Up 2.6% - What's Next?

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 trading, a decline of 78% from the average daily volume of 267,817,143 shares. The stock had previously closed at $153.30.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Mizuho increased their price objective on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Citigroup reaffirmed a "buy" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned 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, NVIDIA has an average rating of "Moderate Buy" and an average target price of $175.78.

NVIDIA Stock Up 2.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm's fifty day simple moving average is $133.27 and its 200 day simple moving average is $127.24. The stock has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 1.40 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is 1.29%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 75,323,225 shares of the company's stock, valued at approximately $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth approximately $43,515,504,000. Nuveen LLC bought a new position in shares of NVIDIA during the 1st quarter worth approximately $15,089,414,000. Goldman Sachs Group Inc. increased its holdings in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after acquiring an additional 103,889,872 shares during the last quarter. GAMMA Investing LLC raised its stake in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Finally, Northern Trust Corp lifted its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.

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