NVIDIA (NASDAQ:NVDA) Trading Up 3.5% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) was up 3.5% during trading on Wednesday . The stock traded as high as $147.43 and last traded at $145.69. Approximately 96,643,875 shares were traded during trading, a decline of 54% from the average daily volume of 212,399,453 shares. The stock had previously closed at $140.83.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Raymond James boosted their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Trading Down 3.1 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 56.13, a P/E/G ratio of 2.65 and a beta of 1.64. The firm’s 50 day moving average price is $138.71 and its 200 day moving average price is $129.47.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value 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 $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of the business. Rheos Capital Works Inc. increased its stake in shares of NVIDIA by 14.2% in the fourth quarter. Rheos Capital Works Inc. now owns 365,500 shares of the computer hardware maker’s stock worth $49,083,000 after purchasing an additional 45,500 shares in the last quarter. Holistic Planning LLC lifted its position in shares of NVIDIA by 5.9% in the fourth quarter. Holistic Planning LLC now owns 13,062 shares of the computer hardware maker’s stock valued at $1,754,000 after acquiring an additional 729 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of NVIDIA by 3.8% during the fourth quarter. Boston Trust Walden Corp now owns 545,932 shares of the computer hardware maker’s stock worth $73,313,000 after purchasing an additional 20,110 shares in the last quarter. Financial Life Planners bought a new stake in NVIDIA during the 4th quarter valued at approximately $11,255,000. Finally, Muirfield Wealth Advisors LLC lifted its holdings in NVIDIA by 5.8% in the 4th quarter. Muirfield Wealth Advisors LLC now owns 29,124 shares of the computer hardware maker’s stock worth $3,911,000 after purchasing an additional 1,585 shares in the last quarter. Institutional investors 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.