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

NVIDIA Co. (NASDAQ:NVDA)’s share price traded up 2.6% during mid-day trading on Monday . The company traded as high as $139.25 and last traded at $138.85. 194,776,546 shares traded hands during trading, a decline of 33% from the average session volume of 291,045,696 shares. The stock had previously closed at $135.29.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup upped their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Raymond James upped their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $168.21.

NVIDIA Stock Up 2.6 %

The firm has a fifty day moving average price of $134.52 and a 200 day moving average price of $130.35. 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 company has a market cap of $3.40 trillion, a P/E ratio of 54.64, a PEG ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 company had revenue of $35.08 billion for 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 for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently added to or reduced their stakes in the stock. Hoertkorn Richard Charles raised its stake in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in shares of NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the last quarter. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its stake in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank raised its stake in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the last quarter. 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.