NVIDIA (NASDAQ:NVDA) Stock Price Up 2.6% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) shares traded up 2.6% during trading on Tuesday . The company traded as high as $121.20 and last traded at $119.72. 95,065,843 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 290,855,094 shares. The stock had previously closed at $116.66.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Melius Research increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Trading Up 2.4 %

The firm has a market cap of $2.93 trillion, a P/E ratio of 47.02, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $136.19 and its 200 day simple moving average is $129.38.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in NVIDIA by 6.2% during the 4th quarter. Addison Advisors LLC now owns 19,515 shares of the computer hardware maker’s stock valued at $2,621,000 after buying an additional 1,147 shares during the last quarter. Prasad Wealth Partners LLC bought a new stake in NVIDIA during the 4th quarter valued at $7,629,000. BankPlus Trust Department bought a new position in NVIDIA in the 4th quarter worth $9,095,000. Quartz Partners LLC raised its holdings in NVIDIA by 2.0% in the 4th quarter. Quartz Partners LLC now owns 78,722 shares of the computer hardware maker’s stock worth $10,572,000 after purchasing an additional 1,573 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in NVIDIA by 1.8% in the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 130,582 shares of the computer hardware maker’s stock worth $17,536,000 after purchasing an additional 2,370 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.