NVIDIA (NASDAQ:NVDA) Trading Up 6.4%

NVIDIA Co. (NASDAQ:NVDAGet Rating)’s share price was up 6.4% during mid-day trading on Wednesday . The stock traded as high as $140.28 and last traded at $140.15. Approximately 1,746,452 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 58,333,024 shares. The stock had previously closed at $131.76.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Piper Sandler reduced their price objective on shares of NVIDIA from $235.00 to $200.00 in a research note on Thursday, September 1st. KeyCorp reduced their price objective on shares of NVIDIA from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reduced their price objective on shares of NVIDIA from $230.00 to $220.00 in a research note on Thursday, August 25th. TheStreet lowered shares of NVIDIA from a “b-” rating to a “c+” rating in a research note on Thursday, September 15th. Finally, Robert W. Baird reduced their price target on shares of NVIDIA from $150.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

NVIDIA Price Performance

The firm’s fifty day moving average price is $162.82 and its 200 day moving average price is $185.71. The stock has a market cap of $312.77 billion, a PE ratio of 41.18, a P/E/G ratio of 4.35 and a beta of 1.69. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Co. will post 2.49 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.13%. The ex-dividend date is Wednesday, September 7th. NVIDIA’s dividend payout ratio is presently 5.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in NVIDIA by 1.2% during the first quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock valued at $54,152,363,000 after acquiring an additional 2,446,529 shares during the last quarter. BlackRock Inc. increased its position in NVIDIA by 2.1% during the fourth quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after acquiring an additional 3,591,440 shares during the last quarter. State Street Corp increased its position in NVIDIA by 1.8% during the second quarter. State Street Corp now owns 97,842,783 shares of the computer hardware maker’s stock valued at $14,835,689,000 after acquiring an additional 1,743,632 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 7.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 56,929,819 shares of the computer hardware maker’s stock valued at $8,629,991,000 after acquiring an additional 3,813,087 shares during the last quarter. Finally, Norges Bank bought a new position in NVIDIA during the fourth quarter valued at $6,279,217,000. Institutional investors own 62.58% of the company’s stock.

About NVIDIA

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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