NVIDIA (NASDAQ:NVDA) Stock Price Up 1.7% - Still a Buy?

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

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. William Blair restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Raymond James upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Stock Performance

The firm has a fifty day simple moving average of $118.45 and a 200-day simple moving average of $126.10. The company has a market cap of $3.48 trillion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 return on equity of 114.83% and a net margin of 55.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,255,320 shares of company stock valued at $172,680,419. 4.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its position in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp lifted its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 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.