NVIDIA (NASDAQ:NVDA) Shares Up 2.2% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s stock price shot up 2.2% during mid-day trading on Tuesday . The stock traded as high as $110.99 and last traded at $109.32. 131,679,982 shares traded hands during trading, a decline of 60% from the average session volume of 327,346,540 shares. The stock had previously closed at $106.98.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. 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 equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

NVIDIA Stock Up 3.5 %

The firm has a market capitalization of $2.70 trillion, a PE ratio of 43.59, a PEG 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. The stock has a 50 day simple moving average of $131.05 and a 200 day simple moving average of $131.57.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Several large investors have recently bought and sold shares of NVDA. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter valued at $27,000. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter worth about $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter valued at about $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the fourth quarter worth about $38,000. Finally, West Financial Advisors LLC purchased a new stake in NVIDIA in the third quarter worth about $36,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Company Profile

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.