NVIDIA (NASDAQ:NVDA) Shares Gap Up to $103.73

NVIDIA Co. (NASDAQ:NVDA) gapped up before the market opened on Wednesday . The stock had previously closed at $103.73, but opened at $112.90. NVIDIA shares last traded at $112.98, with a volume of 70,515,570 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVDA. New Street Research downgraded shares of NVIDIA from a “buy” rating to a “neutral” rating in a research note on Friday, July 5th. HSBC increased their price objective on shares of NVIDIA from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Craig Hallum increased their price objective on shares of NVIDIA from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Robert W. Baird increased their target price on shares of NVIDIA from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Finally, Cantor Fitzgerald increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $131.59.

NVIDIA Trading Down 1.8 %

The company’s 50-day moving average price is $121.68 and its 200-day moving average price is $95.19. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.64 trillion, a price-to-earnings ratio of 60.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 period last year, the firm posted $0.09 earnings per share. Equities analysts expect that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the transaction, the chief executive officer now directly owns 77,334,995 shares of the company’s stock, valued at $8,741,947,834.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the completion of the sale, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,960,723 shares of company stock valued at $594,975,341. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hamilton Wealth LLC lifted its stake in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC lifted its stake in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares in the last quarter. Curran Financial Partners LLC lifted its stake in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC lifted its stake in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares in the last quarter. Finally, M. Kraus & Co lifted its stake in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.