NVIDIA (NASDAQ:NVDA) Trading Up 0.5% – What’s Next?

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 0.5% on Friday . The company traded as high as $110.69 and last traded at $108.08. Approximately 103,207,436 shares were traded during trading, a decline of 67% from the average daily volume of 314,430,031 shares. The stock had previously closed at $107.57.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. TD Cowen cut their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Mizuho lowered their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, DA Davidson reduced their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $169.01.

NVIDIA Stock Up 2.6 %

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’s fifty day simple moving average is $119.10 and its two-hundred day simple moving average is $130.45. The stock has a market capitalization of $2.69 trillion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, research analysts expect 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 Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Activity at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently added to or reduced their stakes in the business. Hickory Point Bank & Trust bought a new stake in NVIDIA in the fourth quarter valued at $2,272,000. Capital Performance Advisors LLP grew its stake in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after buying an additional 9,944 shares during the period. Metis Global Partners LLC increased its position in NVIDIA by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock valued at $196,711,000 after buying an additional 50,978 shares in the last quarter. Palisade Asset Management LLC raised its stake in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the period. Finally, SMART Wealth LLC boosted its holdings in NVIDIA by 289.5% in the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after acquiring an additional 53,747 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.