NVIDIA (NASDAQ:NVDA) Stock Price Up 2.2%

NVIDIA Co. (NASDAQ:NVDA) rose 2.2% during mid-day trading on Wednesday . The company traded as high as $125.39 and last traded at $125.35. Approximately 83,891,148 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 477,697,156 shares. The stock had previously closed at $122.67.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. CICC Research initiated coverage on NVIDIA in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $87.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on NVIDIA from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Raymond James boosted their price target on shares of NVIDIA from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 23rd. Wolfe Research boosted their price target on shares of NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Finally, Argus boosted their price target on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.34.

NVIDIA Trading Up 3.1 %

The firm’s 50 day moving average is $107.95 and its 200 day moving average is $84.78. 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 capitalization of $3.11 trillion, a price-to-earnings ratio of 73.30, a price-to-earnings-growth ratio of 1.30 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion for 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%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Equities analysts forecast that NVIDIA Co. will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. NVIDIA’s dividend payout ratio is 2.34%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 10,521,330 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the transaction, the director now owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred 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 directly owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 2,106,590 shares of company stock worth $354,056,104 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA during the fourth quarter worth $28,000. Criterion Capital Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth $28,000. Finally, HBC Financial Services PLLC acquired a new position in NVIDIA during the first quarter worth $30,000. 65.27% of the stock is currently 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.