NVIDIA (NASDAQ:NVDA) Trading Up 1.3% - Should You Buy?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s share price rose 1.3% during trading on Thursday . The company traded as high as $145.00 and last traded at $144.74. Approximately 59,139,003 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 276,543,177 shares. The stock had previously closed at $142.83.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. DA Davidson increased their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Barclays reiterated an "overweight" rating and set a $170.00 price target (up from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $172.24.

NVIDIA Price Performance

The business has a fifty day moving average price of $121.86 and a 200-day moving average price of $126.41. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.47 trillion, a PE ratio of 55.95, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results 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 during 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 firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake 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 worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its holdings in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp increased its position in shares of NVIDIA by 15.8% during 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 buying an additional 36,266,817 shares during the period. 65.27% of the stock is owned by institutional investors.

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.