NVIDIA (NASDAQ:NVDA) Trading 0.1% Higher – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) shares traded up 0.1% during mid-day trading on Tuesday . The stock traded as high as $140.54 and last traded at $138.72. 45,406,865 shares changed hands during trading, a decline of 88% from the average session volume of 391,483,031 shares. The stock had previously closed at $138.63.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial raised their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Benchmark raised their price target on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Barclays raised their price target on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

The stock has a 50 day moving average of $137.32 and a two-hundred day moving average of $124.90. 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 firm has a market capitalization of $3.55 trillion, a P/E ratio of 57.12, a P/E/G ratio of 2.54 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued 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 the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,796,986 shares of company stock valued at $214,418,399 in the last three months. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. grew its position in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after buying an additional 13,135 shares during the period. Fairview Capital Investment Management LLC grew its position in shares of NVIDIA by 81.2% during the 1st quarter. Fairview Capital Investment Management LLC now owns 821 shares of the computer hardware maker’s stock worth $742,000 after buying an additional 368 shares during the period. Aristides Capital LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $3,524,000. Manhattan West Asset Management LLC grew its holdings in NVIDIA by 17.0% during the first quarter. Manhattan West Asset Management LLC now owns 12,712 shares of the computer hardware maker’s stock valued at $11,486,000 after purchasing an additional 1,843 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its holdings in NVIDIA by 11.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 8,401 shares of the computer hardware maker’s stock valued at $7,591,000 after purchasing an additional 872 shares during the period. 65.27% of the stock is owned by institutional investors.

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.