NVIDIA (NASDAQ:NVDA) Shares Up 5.2%

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 5.2% during mid-day trading on Monday . The stock traded as high as $111.07 and last traded at $110.24. Approximately 120,800,023 shares traded hands during trading, a decline of 73% from the average daily volume of 452,515,750 shares. The stock had previously closed at $104.75.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. UBS Group raised their price objective on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Tigress Financial lifted their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Truist Financial reissued a “buy” rating and issued a $140.00 price objective (up from $128.80) on shares of NVIDIA in a research note on Thursday, June 27th. KeyCorp lifted their target price on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Susquehanna upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $131.31.

NVIDIA Stock Performance

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 has a market capitalization of $2.90 trillion, a PE ratio of 68.51, a PEG ratio of 1.15 and a beta of 1.68. The business’s 50 day moving average is $120.73 and its 200 day moving average is $98.36.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Activity

In other NVIDIA news, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the transaction, the director now directly owns 555,000 shares in the company, valued at approximately $58,785,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawn E. Hudson sold 150,000 shares of NVIDIA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the director now owns 555,000 shares of the company’s stock, valued at $58,785,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,320,723 shares of company stock valued at $631,994,141. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Dimensional Fund Advisors LP grew its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of NVIDIA by 882.4% in the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after buying an additional 66,151,750 shares in the last quarter. Hedge funds and other 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.