NVIDIA (NASDAQ:NVDA) Shares Down 0.6%

NVIDIA Co. (NASDAQ:NVDA) shares were down 0.6% during mid-day trading on Friday . The stock traded as low as $116.71 and last traded at $117.12. Approximately 76,329,039 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 433,684,031 shares. The stock had previously closed at $117.87.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Mizuho upped their target price on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, KeyCorp boosted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

The stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 68.09, a P/E/G ratio of 1.06 and a beta of 1.67. 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 stock’s 50 day simple moving average is $116.25 and its two-hundred day simple moving average is $106.75.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders sold 3,621,133 shares of company stock worth $435,749,957 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVDA. Hamilton Wealth LLC increased its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC raised its stake in shares of NVIDIA by 2.5% during the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC lifted its holdings in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC boosted its stake in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its position in shares of NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares during the last quarter. 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.