NVIDIA (NASDAQ:NVDA) Trading Up 2.7% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price shot up 2.7% during trading on Friday . The company traded as high as $115.40 and last traded at $114.59. 74,006,660 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 300,681,973 shares. The stock had previously closed at $111.61.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NVDA shares. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. DA Davidson decreased their price target on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Rosenblatt Securities lowered their price objective on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating on shares of NVIDIA in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Price Performance

The company has a market capitalization of $2.79 trillion, a price-to-earnings ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 1.96. The company has a fifty day simple moving average of $110.85 and a two-hundred day simple moving average of $128.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, research 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 was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA 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 sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last quarter. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently added to or reduced their stakes in the business. Hickory Point Bank & Trust acquired a new stake in NVIDIA in the 4th quarter valued at approximately $2,272,000. Capital Performance Advisors LLP increased its position in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Ethos Financial Group LLC raised its stake in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after purchasing an additional 6,241 shares during the period. Metis Global Partners LLC boosted its position in NVIDIA by 3.6% during the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock worth $196,711,000 after acquiring an additional 50,978 shares during the period. Finally, Candriam S.C.A. grew its position in NVIDIA by 0.5% during the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker's stock valued at $948,229,000 after purchasing an additional 35,684 shares in the last quarter. Institutional investors and hedge funds 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.