NVIDIA (NASDAQ:NVDA) Trading Up 1.7%

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 1.7% on Thursday . The company traded as high as $856.49 and last traded at $854.61. Approximately 18,660,514 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 51,441,719 shares. The stock had previously closed at $840.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVDA shares. CICC Research started coverage on NVIDIA in a report on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 target price on the stock. Citigroup raised their target price on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company raised their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Mizuho raised their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of NVIDIA in a report on Tuesday, February 20th. Four equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Price Performance

The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $840.89 and a 200 day simple moving average of $618.47. The stock has a market capitalization of $2.12 trillion, a P/E ratio of 71.58, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. On average, analysts expect that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,278 shares of company stock valued at $52,689,898. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in NVIDIA by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock valued at $101,276,242,000 after purchasing an additional 827,377 shares during the last quarter. Geode Capital Management LLC lifted its stake in NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares during the last quarter. Norges Bank purchased a new position in NVIDIA in the fourth quarter valued at approximately $14,606,369,000. Morgan Stanley lifted its stake in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.