NVIDIA (NASDAQ:NVDA) Shares Up 2.6% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) shares shot up 2.6% during mid-day trading on Monday . The stock traded as high as $139.25 and last traded at $138.85. 194,776,546 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 291,045,696 shares. The stock had previously closed at $135.29.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVDA. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $170.00 to $220.00 in a research report on Tuesday, January 28th. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Trading Up 2.6 %

The firm has a market cap of $3.40 trillion, a P/E ratio of 54.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62. The business’s 50 day moving average is $134.52 and its 200-day moving average is $130.35. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA 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 transaction of $131,260,000.00. Following the sale, the director now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter valued at about $27,000. Tacita Capital Inc bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds 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.