NVIDIA (NASDAQ:NVDA) Trading Up 0.3% – What’s Next?

Shares of NVIDIA Co. (NASDAQ:NVDA) shot up 0.3% during mid-day trading on Friday . The company traded as high as $113.48 and last traded at $110.90. 106,984,335 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 277,181,313 shares. The stock had previously closed at $110.57.

Analyst Ratings Changes

A number of research firms have recently commented on NVDA. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. UBS Group raised their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Susquehanna upped their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.69.

NVIDIA Stock Performance

The stock has a 50 day moving average price of $131.66 and a two-hundred day moving average price of $131.66. The company has a market cap of $2.75 trillion, a price-to-earnings ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,107,632 shares of company stock valued at $146,405,286. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently modified their holdings of the stock. Hoertkorn Richard Charles increased its holdings in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its position in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC increased its stake in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its holdings in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the period. Finally, Baker Boyer National Bank lifted its stake in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.