NVIDIA Corporation (NASDAQ: NVDA) stock fell -3.69% on Friday to $439.00 against a previous-day closing price of $455.81. With 50.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 50.29 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $455.99 whereas the lowest price it dropped to was $438.08. The 52-week range on NVDA shows that it touched its highest point at $502.66 and its lowest point at $108.13 during that stretch. It currently has a 1-year price target of $623.76. With its current market cap of 1125.85 billion, NVDA has annualized dividend of $0.16 while the current yield stands at 0.04%. Beta for the stock currently stands at 1.74.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVDA was down-trending over the past week, with a drop of -3.67%, but this was up by 0.95% over a month. Three-month performance surged to 2.92% while six-month performance rose 71.88%. The stock gained 234.40% in the past year, while it has gained 200.40% so far this year. A look at the trailing 12-month EPS for NVDA yields 4.14 with Next year EPS estimates of 16.71. For the next quarter, that number is 3.34. This implies an EPS growth rate of -54.70% for this year and 55.30% for next year. EPS is expected to grow by 78.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.60%.
Float and Shares Shorts:
At present, 2.47 billion NVDA shares are outstanding with a float of 2.37 billion shares on hand for trading. On Aug 30, 2023, short shares totaled 26.91 million, which was 1.09% higher than short shares on Jul 30, 2023. In addition to Mr. Jen-Hsun Huang as the firm’s Co-Founder, CEO, Pres & Director, Ms. Colette M. Kress serves as its Exec. VP & CFO.
Through their ownership of 68.65% of NVDA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 4.08% of NVDA, in contrast to 38.69% held by mutual funds. Shares owned by individuals account for 29.15%. As the largest shareholder in NVDA with 7.74% of the stake, The Vanguard Group, Inc. holds 191,212,177 shares worth 191,212,177. A second-largest stockholder of NVDA, Fidelity Management & Research Co, holds 121,808,335 shares, controlling over 4.93% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NVDA, holding 115,852,907 shares or 4.69% stake. With a 2.96% stake in NVDA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 73,199,052 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.41% of NVDA stock, is the second-largest Mutual Fund holder. It holds 59,562,082 shares valued at 29.4 billion. Fidelity 500 Index Fund holds 1.14% of the stake in NVDA, owning 28,107,276 shares worth 13.87 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVDA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVDA analysts setting a high price target of $1,100.00 and a low target of $535.00, the average target price over the next 12 months is $654.73. Based on these targets, NVDA could surge 150.57% to reach the target high and rise by 21.87% to reach the target low. Reaching the average price target will result in a growth of 49.14% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NVDA stock several times over the past three months with 14 Buys and 9 Sells. In these transactions, 8,977 shares were bought while 85,044 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 102 over the past year. The total number of shares bought during that period was 2,603,172 while 4,028,864 shares were sold.