NVIDIA (NASDAQ:NVDA) Stock Price Up 2.1% - Here's Why

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

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Raymond James Financial boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Mizuho boosted their price target on shares of NVIDIA from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Price Performance

The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business's 50-day simple moving average is $139.47 and its 200 day simple moving average is $128.43. The firm has a market capitalization of $3.96 trillion, a P/E ratio of 52.40, a PEG ratio of 1.42 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. 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 on Monday, July 7th. The stock was sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the sale, the chief executive officer owned 75,023,225 shares of the company's stock, valued at $11,879,927,678.75. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director A Brooke Seawell sold 50,514 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.37, for a total value 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. The trade was a 2.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,296,844 shares of company stock valued at $624,019,677. Insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Group Ltd. increased its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares in the last quarter. Tallon Kerry Patrick bought a new stake in NVIDIA in the 4th quarter worth about $972,000. Capital & Planning LLC increased its holdings in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its holdings in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after buying an additional 104 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after buying an additional 35,815 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.