NVIDIA (NASDAQ:NVDA) Trading Up 1.9% – Here’s Why

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 1.9% during trading on Thursday . The company traded as high as $119.58 and last traded at $119.74. Approximately 70,990,077 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 317,062,810 shares. The stock had previously closed at $117.52.

Analyst Ratings Changes

A number of research firms recently issued reports on NVDA. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Wednesday. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of NVIDIA in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Trading Down 0.7 %

The firm has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. The firm’s fifty day moving average is $126.92 and its two-hundred day moving average is $131.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,109 shares of company stock worth $22,117,015 over the last three months. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the 4th quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors 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.