NVIDIA (NASDAQ:NVDA) Sets New 52-Week High After Earnings Beat

NVIDIA Co. (NASDAQ:NVDA) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $1,042.60 and last traded at $1,028.76, with a volume of 20668186 shares changing hands. The stock had previously closed at $949.50.

The computer hardware maker reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 122.24%. The business’s revenue was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.10 per share. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is currently 0.94%.

Analyst Ratings Changes

A number of research analysts have weighed in on NVDA shares. CICC Research initiated coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price for the company. Morgan Stanley upped their price objective on shares of NVIDIA from $1,000.00 to $1,160.00 and gave the company an “overweight” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of NVIDIA in a research report on Monday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $850.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, UBS Group upped their price objective on shares of NVIDIA from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $1,123.49.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the transaction, the director now owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,278 shares of company stock worth $44,714,198. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVDA. Vanguard Group Inc. grew its position in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the period. Norges Bank bought a new position in NVIDIA during the fourth quarter valued at about $14,606,369,000. Northern Trust Corp grew its position in NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares during the period. International Assets Investment Management LLC boosted its position in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.62 trillion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.75. The business’s 50-day simple moving average is $893.19 and its two-hundred day simple moving average is $702.95.

NVIDIA shares are going to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be issued to shareholders after the closing bell on Monday, June 10th.

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.