NVIDIA (NASDAQ:NVDA) Stock Price Up 0.3% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) shot up 0.3% during trading on Monday . The company traded as high as $140.45 and last traded at $138.67. 67,090,359 shares traded hands during trading, a decline of 83% from the average session volume of 392,512,094 shares. The stock had previously closed at $138.25.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVDA shares. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Needham & Company LLC lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.38 trillion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 2.50 and a beta of 1.66. The stock’s 50 day moving average is $136.05 and its two-hundred day moving average is $124.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of NVDA. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the 1st quarter valued at approximately $27,000. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter worth about $27,000. Finally, CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $26,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

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.