NVIDIA (NASDAQ:NVDA) Trading 3.3% Higher - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares were up 3.3% during trading on Tuesday . The company traded as high as $141.97 and last traded at $141.91. Approximately 92,498,698 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 283,429,178 shares. The stock had previously closed at $137.38.

Analysts Set New Price Targets

A number of research analysts recently commented on NVDA shares. William Blair reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Rosenblatt Securities increased their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $171.66.

NVIDIA Trading Up 0.5%

The stock's fifty day simple moving average is $117.19 and its 200-day simple moving average is $126.42. The firm has a market cap of $3.46 trillion, a PE ratio of 55.85, a PEG ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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 $0.01 dividend. 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 payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now owns 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,257,983 shares of company stock worth $172,973,349 over the last 90 days. 4.17% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in NVIDIA during the fourth quarter valued at $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $40,000. Kathleen S. Wright Associates Inc. grew its position in shares of NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the period. Finally, Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $50,000. Institutional investors and hedge funds 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.