NVIDIA (NASDAQ:NVDA) Trading Up 2.8% - Here's Why

Shares of NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shot up 2.8% during mid-day trading on Monday . The company traded as high as $144.89 and last traded at $145.97. 53,617,410 shares were traded during mid-day trading, a decline of 81% from the average session volume of 275,562,079 shares. The stock had previously closed at $141.97.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Finally, Benchmark restated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average target price of $172.24.

NVIDIA Trading Up 1.9%

The firm has a market cap of $3.53 trillion, a P/E ratio of 56.94, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a fifty day moving average of $123.74 and a 200-day moving average of $126.36.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 55.69% and a return on equity of 114.83%. The firm's revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. The trade was a 27.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value 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 $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock valued at $360,351,849 in the last quarter. Corporate insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Maple Capital Management Inc. raised its stake in shares of NVIDIA by 1.0% in the 1st quarter. Maple Capital Management Inc. now owns 732,482 shares of the computer hardware maker's stock worth $79,386,000 after buying an additional 7,003 shares in the last quarter. Lynx Investment Advisory grew its holdings in shares of NVIDIA by 5.4% in the 1st quarter. Lynx Investment Advisory now owns 11,566 shares of the computer hardware maker's stock worth $1,253,000 after acquiring an additional 591 shares during the last quarter. Peterson Wealth Management grew its holdings in shares of NVIDIA by 1.6% in the 1st quarter. Peterson Wealth Management now owns 71,486 shares of the computer hardware maker's stock worth $7,748,000 after acquiring an additional 1,133 shares during the last quarter. 1248 Management LLC grew its holdings in shares of NVIDIA by 56.0% in the 1st quarter. 1248 Management LLC now owns 57,621 shares of the computer hardware maker's stock worth $6,246,000 after acquiring an additional 20,677 shares during the last quarter. Finally, First Long Island Investors LLC grew its holdings in shares of NVIDIA by 3.1% in the 1st quarter. First Long Island Investors LLC now owns 385,955 shares of the computer hardware maker's stock worth $41,830,000 after acquiring an additional 11,496 shares during the last quarter. Institutional investors 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.