NVIDIA (NASDAQ:NVDA) Shares Up 0.9% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as $141.90 and last traded at $140.90. 53,989,408 shares changed hands during trading, a decline of 86% from the average session volume of 380,740,906 shares. The stock had previously closed at $139.67.

Wall Street Analyst Weigh In

Several research analysts recently commented on NVDA shares. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Barclays boosted their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

The firm has a fifty day moving average price of $139.93 and a 200 day moving average price of $127.71. 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 has a market cap of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 over the last quarter. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of the stock. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth approximately $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the second quarter valued at $31,000. Finally, FPC Investment Advisory Inc. increased its holdings in NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.