NVIDIA (NASDAQ:NVDA) Trading Up 1.3% - What's Next?

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s share price was up 1.3% during mid-day trading on Thursday . The company traded as high as $173.45 and last traded at $173.05. Approximately 42,075,118 shares traded 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Loop Capital raised their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Price Performance

The business has a fifty day moving average of $150.19 and a 200-day moving average of $130.70. The firm has a market cap of $4.24 trillion, a PE ratio of 56.09, a PEG ratio of 1.50 and a beta of 2.13. 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 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend 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

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $169.54, for a total value of $12,715,500.00. Following the sale, the chief executive officer directly owned 74,123,225 shares of the company's stock, valued at $12,566,851,566.50. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,114,800 shares of company stock worth $760,553,003. Corporate insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Centerpoint Advisory Group raised its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC raised its stake in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares in the last quarter. Variant Private Wealth LLC raised its stake in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Financial Perspectives Inc raised its stake in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $2,272,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

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.