NVIDIA (NASDAQ:NVDA) Trading 6.1% Higher - Here's Why

Shares of NVIDIA Co. (NASDAQ:NVDA - Get Free Report) rose 6.1% during mid-day trading on Tuesday . The company traded as high as $130.83 and last traded at $130.55. Approximately 132,082,079 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 280,960,250 shares. The stock had previously closed at $123.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVDA. Piper Sandler reissued an "overweight" rating on shares of NVIDIA in a research report on Friday, April 25th. Wedbush reiterated an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. TD Cowen decreased their price objective on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna reissued a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $164.84.

NVIDIA Stock Down 0.7%

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's 50-day simple moving average is $111.24 and its 200 day simple moving average is $127.14. The company has a market capitalization of $3.29 trillion, a PE ratio of 52.88, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is 1.36%.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,660 shares of the company'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, 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. Over the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at about $34,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $40,000. Finally, Kathleen S. Wright Associates Inc. grew its position in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after buying an additional 254 shares in the last quarter. 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.