NVIDIA (NASDAQ:NVDA) Trading 1.7% Higher - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares were up 1.7% on Friday . The company traded as high as $143.27 and last traded at $142.39. Approximately 55,087,974 shares changed hands during trading, a decline of 80% from the average daily volume of 280,305,955 shares. The stock had previously closed at $139.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVDA shares. Benchmark reissued a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Trading Up 1.2%

The firm's 50 day moving average is $118.45 and its 200 day moving average is $126.38. The company has a market cap of $3.46 trillion, a PE ratio of 55.77, 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 issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares of the company's stock, valued at $27,104,752.08. The trade was a 19.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,257,983 shares of company stock valued at $172,973,349 in the last quarter. Corporate insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Long Island Investors LLC boosted its stake in shares of NVIDIA by 3.1% in the 1st quarter. First Long Island Investors LLC now owns 385,955 shares of the computer hardware maker's stock valued at $41,830,000 after purchasing an additional 11,496 shares in the last quarter. Nicola Wealth Management LTD. purchased a new stake in shares of NVIDIA in the 1st quarter valued at $5,744,000. Cim LLC boosted its stake in shares of NVIDIA by 4.2% in the 1st quarter. Cim LLC now owns 268,671 shares of the computer hardware maker's stock valued at $29,119,000 after purchasing an additional 10,874 shares in the last quarter. Osterweis Capital Management Inc. boosted its stake in shares of NVIDIA by 20.3% in the 1st quarter. Osterweis Capital Management Inc. now owns 339,121 shares of the computer hardware maker's stock valued at $36,754,000 after purchasing an additional 57,340 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of NVIDIA by 51.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 4,212 shares of the computer hardware maker's stock valued at $457,000 after purchasing an additional 1,431 shares in the last quarter. 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.