NVIDIA (NASDAQ:NVDA) Stock Price Down 0.8%

NVIDIA Co. (NASDAQ:NVDA) shares dropped 0.8% during trading on Wednesday . The stock traded as low as $940.72 and last traded at $946.20. Approximately 13,426,713 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 49,140,695 shares. The stock had previously closed at $953.86.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Craig Hallum increased their target price on NVIDIA from $850.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on shares of NVIDIA from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday. Loop Capital started coverage on shares of NVIDIA in a research report on Friday, February 16th. They set a “buy” rating and a $1,200.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on NVIDIA from $850.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Truist Financial upped their price target on NVIDIA from $1,177.00 to $1,288.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,123.49.

NVIDIA Stock Up 0.6 %

The company has a market cap of $2.57 trillion, a P/E ratio of 60.70, a P/E/G ratio of 1.32 and a beta of 1.75. The company has a 50-day simple moving average of $889.46 and a 200 day simple moving average of $698.74. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA shares are scheduled to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 122.24% and a net margin of 53.40%. The company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the business posted $0.88 EPS. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.04%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is presently 0.94%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Dabiri sold 128 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,278 shares of company stock valued at $44,714,198. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at $27,000. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA in the 4th quarter worth $28,000. Criterion Capital Advisors LLC purchased a new position in NVIDIA during the fourth quarter valued at $28,000. Finally, Your Advocates Ltd. LLP purchased a new position in NVIDIA during the third quarter valued at $30,000. Hedge funds and other institutional investors 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.