NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher – Still a Buy?

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 1.3% during mid-day trading on Thursday . The stock traded as high as $145.00 and last traded at $144.74. Approximately 59,139,003 shares changed hands during trading, a decline of 79% from the average daily volume of 276,543,177 shares. The stock had previously closed at $142.83.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NVDA shares. DA Davidson lifted their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Bank of America lifted their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $172.24.

NVIDIA Trading Down 2.1%

The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12. The company has a 50-day moving average price of $122.77 and a 200 day moving average price of $126.44. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a dividend of $0.01 per share. 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%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 190,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the completion of the sale, the director now owns 8,855,848 shares of the company’s stock, valued at approximately $1,262,046,898.48. This trade represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at about $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter valued at about $40,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at about $50,000. Finally, LSV Asset Management bought a new position in NVIDIA during the fourth quarter valued at about $54,000. Institutional investors and hedge funds 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.