NVIDIA (NASDAQ:NVDA) Trading Up 0.9% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) shares shot up 0.9% on Tuesday . The stock traded as high as $141.90 and last traded at $140.90. 53,989,408 shares changed hands during trading, a decline of 86% from the average session volume of 380,740,906 shares. The stock had previously closed at $139.67.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Sanford C. Bernstein increased their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. HSBC boosted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 55.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business’s 50 day moving average price is $139.66 and its 200-day moving average price is $127.49.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 (DPR) is presently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,391,886 shares of company stock valued at $181,666,050. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $26,000. Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the second quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. grew its stake in NVIDIA by 900.0% in the 2nd 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 during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.