NVIDIA (NASDAQ:NVDA) Trading 2.4% Higher

NVIDIA Co. (NASDAQ:NVDA) rose 2.4% during trading on Friday . The company traded as high as $889.47 and last traded at $878.89. Approximately 17,127,867 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 51,272,035 shares. The stock had previously closed at $858.17.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVDA shares. Bank of America upped their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. KeyCorp lifted their price target on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Needham & Company LLC boosted their price target on shares of NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. TD Cowen lifted their target price on NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. increased their price target on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $941.55.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market cap of $2.22 trillion, a PE ratio of 74.36, a price-to-earnings-growth ratio of 1.23 and a beta of 1.75. The stock has a 50 day simple moving average of $867.38 and a two-hundred day simple moving average of $649.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the company posted $0.65 earnings per share. NVIDIA’s revenue for the quarter was up 265.3% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $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 Mark A. Stevens sold 22,700 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn FI LLC increased its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its position in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its position in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the period. M. Kraus & Co lifted its stake in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the last quarter. Finally, Sterling Financial Group Inc. grew its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock worth $1,312,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds 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.