NVIDIA (NASDAQ:NVDA) Trading Up 0.5% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 0.5% on Tuesday . The company traded as high as $134.48 and last traded at $134.28. Approximately 63,672,471 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 281,269,250 shares. The stock had previously closed at $133.57.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVDA shares. UBS Group boosted their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $170.00 to $220.00 in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Stock Down 0.1 %

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $135.21 and a 200-day moving average price of $129.70. The firm has a market cap of $3.27 trillion, a P/E ratio of 52.49, a P/E/G ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth $27,000. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the 4th quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth about $36,000. Hedge funds and other 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.