NVIDIA (NASDAQ:NVDA) Shares Up 0.6%

NVIDIA Co. (NASDAQ:NVDA) shares shot up 0.6% on Tuesday . The company traded as high as $118.80 and last traded at $117.52. 67,244,445 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 436,232,719 shares. The stock had previously closed at $116.78.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Mizuho upped their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. UBS Group boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

The company has a market cap of $2.79 trillion, a P/E ratio of 66.30, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50-day moving average of $116.45 and a two-hundred day moving average of $106.68.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders have sold a total of 3,725,633 shares of company stock valued at $449,025,722 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently bought and sold shares of NVDA. Legal & General Group Plc boosted its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of 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 acquiring an additional 73,589,208 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.