NVIDIA (NASDAQ:NVDA) Stock Price Up 0.4% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 0.4% during mid-day trading on Wednesday . The company traded as high as $141.90 and last traded at $140.22. Approximately 105,156,984 shares traded hands during trading, a decline of 72% from the average daily volume of 380,986,563 shares. The stock had previously closed at $139.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Evercore ISI upped their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Barclays lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Sanford C. Bernstein increased their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 0.4 %

The business has a fifty day moving average of $139.84 and a 200 day moving average of $127.62. 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 firm has a market cap of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business posted $0.38 EPS. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the company. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. raised its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.