NVIDIA (NASDAQ:NVDA) Stock Price Up 1.5% – Still a Buy?

NVIDIA Corporation (NASDAQ:NVDA)’s share price was up 1.5% during trading on Friday . The company traded as high as $167.89 and last traded at $166.61. Approximately 74,689,775 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 265,982,762 shares. The stock had previously closed at $164.10.

Analyst Ratings Changes

Several analysts recently weighed in on NVDA shares. Susquehanna restated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Citigroup upped their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. 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, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.03.

NVIDIA Trading Up 0.5%

The firm has a market cap of $4.02 trillion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 1.46 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $141.53 and its two-hundred day moving average price is $128.69.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the completion of the transaction, the chief executive officer directly owned 74,873,225 shares of the company’s stock, valued at $12,212,571,729.75. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 49,131 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the sale, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 over the last ninety days. Insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently modified their holdings of the stock. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter valued at about $38,000. Kathleen S. Wright Associates Inc. increased its position in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after purchasing an additional 254 shares during the period. Copia Wealth Management bought a new stake in NVIDIA during the 4th quarter worth about $50,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter worth about $51,000. 65.27% of the stock is owned by institutional investors.

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.