NVIDIA (NASDAQ:NVDA) Stock Price Up 1.9% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) rose 1.9% on Monday . The company traded as high as $144.90 and last traded at $144.35. Approximately 52,775,304 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 277,770,626 shares. The stock had previously closed at $141.72.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVDA shares. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $171.66.

NVIDIA Stock Up 0.6%

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a fifty day simple moving average of $118.45 and a 200 day simple moving average of $126.10. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 56.11, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director now owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,255,320 shares of company stock valued at $172,680,419 in the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. DiNuzzo Private Wealth Inc. lifted its position in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the period. Baker Boyer National Bank grew its stake in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the period. Elevate Wealth Advisory Inc. increased its holdings in shares of NVIDIA by 1.7% during the first quarter. Elevate Wealth Advisory Inc. now owns 4,617 shares of the computer hardware maker’s stock valued at $500,000 after acquiring an additional 77 shares in the last quarter. SC&H Financial Advisors Inc. raised its holdings in NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after buying an additional 80 shares during the last quarter. Finally, DecisionPoint Financial LLC lifted its position in NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after acquiring an additional 80 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.