NVIDIA (NASDAQ:NVDA) Trading 4% Higher – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) traded up 4% during trading on Wednesday . The stock traded as high as $123.39 and last traded at $123.34. 104,017,487 shares were traded during mid-day trading, a decline of 64% from the average session volume of 290,269,938 shares. The stock had previously closed at $118.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVDA shares. UBS Group upped their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Raymond James boosted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four investment 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Price Performance

The stock has a market cap of $3.18 trillion, a P/E ratio of 51.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a 50-day moving average price of $135.48 and a 200-day moving average price of $129.35.

NVIDIA (NASDAQ:NVDA) last announced its 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. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. On average, analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given 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 dividend payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. increased its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Palisade Asset Management LLC increased its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares in the last quarter. Blue Square Asset Management LLC raised its stake in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the period. Finally, Narwhal Capital Management lifted its position in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares in the last quarter. Hedge funds and other 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.