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

NVIDIA Co. (NASDAQ:NVDA) was up 3.5% on Wednesday . The stock traded as high as $147.43 and last traded at $145.69. Approximately 96,643,875 shares changed hands 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 brokerages have recently issued reports on NVDA. UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Piper Sandler lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Down 3.1 %

The business has a 50 day moving average of $138.71 and a two-hundred day moving average of $129.47. The stock has a market capitalization of $3.49 trillion, a PE ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during 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 quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s 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 completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter valued at $27,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.