NVIDIA (NASDAQ:NVDA) Trading 1.4% Higher – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) shares rose 1.4% during mid-day trading on Wednesday . The stock traded as high as $142.63 and last traded at $142.16. Approximately 54,822,007 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 390,529,406 shares. The stock had previously closed at $140.26.

Wall Street Analyst Weigh In

Several analysts recently commented on NVDA shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Wedbush raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Mizuho increased their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Four equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 0.1 %

The company has a 50 day moving average price of $137.74 and a 200 day moving average price of $125.04. 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 market cap of $3.55 trillion, a price-to-earnings ratio of 57.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its 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. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. On average, research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. 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 payout ratio is presently 1.57%.

NVIDIA declared that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,796,986 shares of company stock worth $214,418,399 in the last three months. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter valued at approximately $27,000. Finally, Quest Partners LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.