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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Susquehanna restated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Citigroup restated a “buy” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.24.

NVIDIA Trading Down 2.1%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business has a fifty day simple moving average of $122.77 and a 200 day simple moving average of $126.44. The company has a market cap of $3.46 trillion, a P/E ratio of 55.87, a P/E/G ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last released its 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). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The company’s quarterly revenue was up 69.2% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Insiders Place Their Bets

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

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hickory Point Bank & Trust acquired a new stake in NVIDIA in the 4th quarter valued at approximately $2,272,000. BTC Capital Management Inc. increased its position in NVIDIA by 2.3% in the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after acquiring an additional 7,476 shares during the period. Capital Performance Advisors LLP increased its position in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares during the period. Waddell & Associates LLC increased its position in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after acquiring an additional 297 shares during the period. Finally, Strategy Asset Managers LLC increased its position in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after acquiring an additional 405 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.