NVIDIA (NASDAQ:NVDA) Shares Up 2.1% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) rose 2.1% during trading on Friday . The company traded as high as $143.78 and last traded at $143.41. Approximately 65,167,602 shares were traded during trading, a decline of 84% from the average daily volume of 413,480,219 shares. The stock had previously closed at $140.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird raised their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Truist Financial upped their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Performance

The business has a 50-day moving average price of $123.91 and a 200 day moving average price of $113.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.52 trillion, a P/E ratio of 67.27, a PEG ratio of 1.52 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,636,270 shares of company stock valued at $305,367,927 over the last three months. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the 1st quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the 1st quarter valued at approximately $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA in the first quarter worth $45,000. Finally, Coston McIsaac & Partners grew its stake in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other 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.