NVIDIA (NASDAQ:NVDA) Stock Price Up 5.2%

NVIDIA Co. (NASDAQ:NVDA) 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 mid-day 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

Several research firms recently commented on NVDA. Rosenblatt Securities raised their price objective on shares of NVIDIA from $140.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Raymond James boosted their price objective on NVIDIA from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. Argus raised their target price on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Bank of America lifted their target price on NVIDIA from $132.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Five equities research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.31.

NVIDIA Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The firm has a market cap of $2.71 trillion, a P/E ratio of 64.44, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The stock has a fifty day simple moving average of $120.86 and a 200 day simple moving average of $97.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, research analysts expect that NVIDIA Co. will post 2.53 earnings per share 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 given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the transaction, the chief executive officer now owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Insiders have sold 4,200,723 shares of company stock worth $619,414,541 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gifford Fong Associates boosted its stake in NVIDIA by 900.0% in the 2nd quarter. Gifford Fong Associates now owns 365,710 shares of the computer hardware maker’s stock worth $45,180,000 after purchasing an additional 329,139 shares during the period. Kentucky Retirement Systems boosted its position in shares of NVIDIA by 888.2% during the second quarter. Kentucky Retirement Systems now owns 1,853,641 shares of the computer hardware maker’s stock worth $228,999,000 after acquiring an additional 1,666,062 shares during the last quarter. Paces Ferry Wealth Advisors LLC grew its stake in NVIDIA by 883.8% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 79,635 shares of the computer hardware maker’s stock valued at $9,838,000 after acquiring an additional 71,540 shares in the last quarter. Sienna Gestion increased its holdings in NVIDIA by 905.9% in the 2nd quarter. Sienna Gestion now owns 550,730 shares of the computer hardware maker’s stock valued at $68,005,000 after acquiring an additional 495,982 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its stake in NVIDIA by 868.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 32,403 shares of the computer hardware maker’s stock worth $4,003,000 after purchasing an additional 29,058 shares in 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.