NVIDIA (NASDAQ:NVDA) Shares Up 3.3% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) shares were up 3.3% during mid-day trading on Monday . The company traded as high as $134.84 and last traded at $134.17. Approximately 89,900,696 shares changed hands during trading, a decline of 68% from the average daily volume of 284,571,781 shares. The stock had previously closed at $129.84.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Susquehanna upped their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Trading Down 1.3 %

The business has a 50-day simple moving average of $135.06 and a 200-day simple moving average of $129.84. 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 company has a market cap of $3.21 trillion, a PE ratio of 51.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62.

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 the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 EPS. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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 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%.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth about $27,000. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. Finally, Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $38,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.