NVIDIA (NASDAQ:NVDA) Stock Price Up 1.4% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 1.4% during trading on Monday . The company traded as high as $138.00 and last traded at $137.29. Approximately 64,822,855 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 407,431,688 shares. The stock had previously closed at $135.40.

Analyst Ratings Changes

A number of analysts have recently commented on NVDA shares. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, August 6th. Westpark Capital increased their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Price Performance

The company’s 50-day moving average is $125.25 and its two-hundred day moving average is $116.24. 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 firm has a market cap of $3.38 trillion, a P/E ratio of 64.46, a PEG ratio of 1.40 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,396,270 shares of company stock valued at $279,825,927. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. River Global Investors LLP increased its position in NVIDIA by 4.8% during the 3rd quarter. River Global Investors LLP now owns 13,791 shares of the computer hardware maker’s stock valued at $1,676,000 after purchasing an additional 631 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of NVIDIA by 1.3% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 81,692 shares of the computer hardware maker’s stock worth $9,921,000 after buying an additional 1,026 shares in the last quarter. Meritage Portfolio Management boosted its holdings in shares of NVIDIA by 71.7% during the 3rd quarter. Meritage Portfolio Management now owns 233,014 shares of the computer hardware maker’s stock worth $28,297,000 after buying an additional 97,282 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of NVIDIA by 1.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,588,348 shares of the computer hardware maker’s stock worth $192,889,000 after buying an additional 19,001 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in shares of NVIDIA by 9.5% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 8,340 shares of the computer hardware maker’s stock worth $1,013,000 after buying an additional 724 shares in the last quarter. 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.