NVIDIA (NASDAQ:NVDA) Trading Up 2.1% - Time to Buy?

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) traded up 2.1% during mid-day trading on Wednesday . The stock traded as high as $164.42 and last traded at $163.34. 76,396,161 shares changed hands during trading, a decline of 71% from the average session volume of 266,715,085 shares. The stock had previously closed at $160.00.

Analysts Set New Price Targets

Several analysts recently issued reports on NVDA shares. Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Price Performance

The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.00 trillion, a P/E ratio of 52.94, a P/E/G ratio of 1.44 and a beta of 2.13. The company has a 50 day moving average price of $139.47 and a 200 day moving average price of $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the transaction, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 50,514 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the completion of the sale, the director directly owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This represents a 2.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,296,844 shares of company stock valued at $624,019,677. 4.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter valued at approximately $50,000. LSV Asset Management bought a new stake in NVIDIA during the fourth quarter worth $54,000. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares in the last quarter. 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.