NVIDIA (NASDAQ:NVDA) Stock Price Up 1.5% - Here's What Happened

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) traded up 1.5% on Friday . The company traded as high as $167.89 and last traded at $166.61. 74,689,775 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 265,982,762 shares. The stock had previously closed at $164.10.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVDA shares. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Citigroup lifted their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday. TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Finally, Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $177.03.

NVIDIA Stock Performance

The business has a 50 day moving average of $140.52 and a 200-day moving average of $128.60. The company has a market capitalization of $4.05 trillion, a P/E ratio of 53.59, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

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 for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared 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 Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on 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 sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 in the last ninety days. 4.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GSB Wealth Management LLC grew its holdings in shares of 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 boosted its position in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the period. Financial Perspectives Inc grew 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 valued at $4,981,000 after buying an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA in the fourth quarter worth about $2,272,000. Finally, Pegasus Asset Management Inc. lifted its stake in shares of NVIDIA by 0.3% in the 1st quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock valued at $8,318,000 after acquiring an additional 197 shares during the last quarter. 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.

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