NVIDIA (NASDAQ:NVDA) Stock Price Up 4.3% – Still a Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 4.3% during mid-day trading on Friday . The stock traded as high as $120.68 and last traded at $120.58. 98,189,755 shares were traded during trading, a decline of 70% from the average session volume of 323,124,205 shares. The stock had previously closed at $115.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho dropped their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Truist Financial lifted their price objective on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Up 4.7 %

The firm has a market cap of $2.95 trillion, a P/E ratio of 47.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The stock has a fifty day simple moving average of $129.71 and a 200 day simple moving average of $131.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,125 shares of company stock worth $137,062,338. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently made changes to their positions in the business. Keystone Financial Services LLC bought a new stake in shares of NVIDIA in the fourth quarter worth about $1,020,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $1,288,798,000. Silver Oak Wealth Advisors Services LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $591,000. PKO Investment Management Joint Stock Co purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $21,218,000. Finally, Northstar Financial Companies Inc. purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $565,000. 65.27% of the stock is currently owned by hedge funds and other 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.