NVIDIA (NASDAQ:NVDA) Trading Up 1% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA) shares rose 1% during mid-day trading on Tuesday . The stock traded as high as $140.21 and last traded at $139.05. Approximately 59,934,831 shares traded hands during trading, a decline of 72% from the average daily volume of 210,617,031 shares. The stock had previously closed at $137.71.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. HSBC reduced their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Citigroup increased their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Four 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Trading Up 0.1 %

The company’s fifty day moving average is $138.70 and its two-hundred day moving average is $129.34. 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 stock has a market cap of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ironwood Wealth Management LLC. grew its holdings in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. increased its position in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after buying an additional 3,240 shares in the last quarter. Tobam grew its stake in NVIDIA by 811.4% in the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock valued at $5,126,000 after acquiring an additional 36,937 shares during the last quarter. Hudson Value Partners LLC increased its holdings in NVIDIA by 845.9% during the 2nd quarter. Hudson Value Partners LLC now owns 34,675 shares of the computer hardware maker’s stock valued at $4,284,000 after acquiring an additional 31,009 shares in the last quarter. Finally, Modera Wealth Management LLC raised its position in NVIDIA by 967.2% during the second quarter. Modera Wealth Management LLC now owns 115,348 shares of the computer hardware maker’s stock worth $14,250,000 after acquiring an additional 104,540 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.