NVIDIA (NASDAQ:NVDA) Trading Up 0% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 0% during trading on Monday . The stock traded as high as $143.10 and last traded at $141.55. 57,703,766 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 412,442,625 shares. The stock had previously closed at $141.54.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVDA shares. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 0.1 %

The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.48 trillion, a P/E ratio of 82.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The stock’s fifty day moving average is $124.25 and its two-hundred day moving average is $114.45.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the sale, the chief executive officer now owns 77,334,995 shares in the company, valued at approximately $8,741,947,834.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the transaction, the chief executive officer now directly owns 77,334,995 shares of the company’s stock, valued at approximately $8,741,947,834.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,636,270 shares of company stock worth $305,367,927 over the last three months. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.