NVIDIA (NASDAQ:NVDA) Stock Price Up 1.8% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 1.8% during trading on Tuesday . The company traded as high as $122.20 and last traded at $120.57. 216,306,187 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 253,351,031 shares. The stock had previously closed at $118.42.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NVDA shares. Truist Financial boosted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Finally, DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Trading Up 7.9 %

The firm has a 50 day moving average price of $138.29 and a two-hundred day moving average price of $129.45. The firm has a market capitalization of $3.13 trillion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. 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 issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last 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 expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced 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%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Several large investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. raised its position in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its position in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Finally, Blue Square Asset Management LLC boosted its holdings in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares during the period. 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.