NVIDIA (NASDAQ:NVDA) Stock Price Up 2.1% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 2.1% on Friday . The company traded as high as $127.09 and last traded at $127.26. Approximately 110,271,389 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 282,846,063 shares. The stock had previously closed at $124.65.

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Wells Fargo & Company boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.

NVIDIA Price Performance

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $137.02 and a 200-day moving average of $129.37. The firm has a market capitalization of $3.01 trillion, a P/E ratio of 48.41, a P/E/G ratio of 2.23 and a beta of 1.64.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter worth $31,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter valued at $34,000. Finally, West Financial Advisors LLC bought a new position in shares of NVIDIA during the 3rd quarter worth about $36,000. 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.