NVIDIA (NASDAQ:NVDA) Stock Price Up 2.3% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 2.3% on Wednesday . The stock traded as high as $135.59 and last traded at $134.82. Approximately 68,270,801 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 215,597,531 shares. The stock had previously closed at $131.76.

Analyst Ratings Changes

A number of analysts recently weighed in on NVDA shares. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Piper Sandler raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Evercore ISI upped their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.27.

NVIDIA Trading Up 2.4 %

The firm has a 50 day moving average of $139.68 and a 200 day moving average of $128.82. The firm has a market cap of $3.30 trillion, a PE ratio of 53.09, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % 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 valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of NVIDIA during the 3rd quarter valued at about $36,000. 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.