NVIDIA (NASDAQ:NVDA) Shares Down 2.9%

NVIDIA Co. (NASDAQ:NVDA) fell 2.9% during trading on Friday . The stock traded as low as $124.30 and last traded at $127.04. 191,821,990 shares traded hands during trading, a decline of 61% from the average session volume of 485,638,656 shares. The stock had previously closed at $130.78.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. Evercore ISI lifted their target price on NVIDIA from $131.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. Needham & Company LLC lifted their target price on NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on NVIDIA from $85.00 to $100.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Susquehanna lifted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Finally, Bank of America upped their price objective on NVIDIA from $132.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

NVIDIA Stock Down 1.0 %

The stock has a market cap of $3.18 trillion, a price-to-earnings ratio of 74.29, a P/E/G ratio of 1.43 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $101.48 and its 200-day moving average price is $79.99.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. On average, sell-side analysts expect that NVIDIA Co. will post 2.52 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is 2.34%.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 1,280 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $94.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 20,550 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John Dabiri sold 1,280 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $94.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 20,550 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,413,370 shares of company stock worth $263,248,609. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hamilton Wealth LLC increased its stake in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC increased its stake in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC increased its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC boosted its holdings in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Finally, M. Kraus & Co boosted its holdings in NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after acquiring an additional 13 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.