Investors Buy NVIDIA Corporation (NASDAQ:NVDA) on Weakness

Traders bought shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading hours on Tuesday. $927.37 million flowed into the stock on the tick-up and $887.86 million flowed out of the stock on the tick-down, for a money net flow of $39.51 million into the stock. Of all equities tracked, NVIDIA Corporation had the 16th highest net in-flow for the day. NVIDIA Corporation traded down ($2.05) for the day and closed at $170.30

Several analysts have issued reports on NVDA shares. Vetr raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 target price on the stock in a research note on Monday, June 12th. Zacks Investment Research upgraded shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a report on Tuesday, July 11th. Canaccord Genuity reiterated a “buy” rating on shares of NVIDIA Corporation in a research note on Saturday, June 3rd. Mizuho reissued a “buy” rating and issued a $170.00 price target (up previously from $145.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 28th. Finally, BidaskClub raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. NVIDIA Corporation has a consensus rating of “Hold” and an average price target of $145.00.

The firm has a 50 day moving average price of $161.56 and a 200 day moving average price of $129.36. The firm has a market capitalization of $96.42 billion, a PE ratio of 46.45 and a beta of 1.24.

NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. NVIDIA Corporation’s revenue was up 56.2% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Equities research analysts predict that NVIDIA Corporation will post $3.60 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.35%. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.

In other NVIDIA Corporation news, EVP Ajay K. Puri sold 81,931 shares of NVIDIA Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $139.90, for a total value of $11,462,146.90. Following the transaction, the executive vice president now owns 564,696 shares in the company, valued at $79,000,970.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark L. Perry sold 16,281 shares of NVIDIA Corporation stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $162.24, for a total value of $2,641,429.44. Following the completion of the transaction, the director now owns 48,069 shares in the company, valued at approximately $7,798,714.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 560,556 shares of company stock worth $85,649,706. Insiders own 5.82% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. increased its stake in shares of NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of NVIDIA Corporation by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock valued at $314,000 after buying an additional 10 shares in the last quarter. Family Firm Inc. increased its stake in shares of NVIDIA Corporation by 0.7% in the second quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock valued at $284,000 after buying an additional 13 shares in the last quarter. Appleton Partners Inc. MA increased its stake in shares of NVIDIA Corporation by 1.2% in the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after buying an additional 30 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC increased its stake in NVIDIA Corporation by 0.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 7,371 shares of the computer hardware maker’s stock worth $1,212,000 after buying an additional 30 shares during the period. 68.55% of the stock is owned by institutional investors and hedge funds.

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NVIDIA Corporation Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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