NVIDIA (NASDAQ:NVDA) Stock Price Up 1.9% - Still a Buy?

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s stock price was up 1.9% during mid-day trading on Tuesday . The stock traded as high as $147.91 and last traded at $146.97. Approximately 64,351,962 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 270,978,246 shares. The stock had previously closed at $144.17.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVDA. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Stock Performance

The firm has a fifty day moving average price of $127.04 and a two-hundred day moving average price of $126.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market capitalization of $3.61 trillion, a PE ratio of 47.71, a P/E/G ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 125,836 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total value of $17,338,942.44. Following the completion of the transaction, the director now owns 10,149,697 shares of the company's stock, valued at approximately $1,398,526,749.63. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,393,863 shares of company stock worth $483,709,832 in the last three months. Corporate insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $40,000. Copia Wealth Management acquired a new position in NVIDIA in the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA in the fourth quarter worth approximately $54,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.