NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher - Time to Buy?

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) rose 1.3% during mid-day trading on Thursday . The stock traded as high as $173.45 and last traded at $173.05. Approximately 42,075,118 shares changed hands during trading, a decline of 83% from the average daily volume of 251,590,969 shares. The stock had previously closed at $170.78.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Jefferies Financial Group lifted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, Rosenblatt Securities boosted their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA Stock Down 0.1%

The firm has a market capitalization of $4.23 trillion, a price-to-earnings ratio of 55.97, a P/E/G ratio of 1.53 and a beta of 2.13. The stock has a fifty day moving average of $150.95 and a two-hundred day moving average of $130.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business's revenue was up 69.2% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated 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 transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $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 sold a total of 5,114,800 shares of company stock worth $760,553,003 in the last quarter. 4.17% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Large investors have recently modified their holdings of the stock. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter valued at $38,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 2nd quarter valued at $55,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. Finally, LSV Asset Management bought a new stake in shares of NVIDIA during the 4th quarter worth $54,000. Hedge funds and other 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.