NVIDIA (NASDAQ:NVDA) Shares Up 3.6% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 3.6% on Monday . The company traded as high as $121.68 and last traded at $121.93. Approximately 74,666,268 shares traded hands during trading, a decline of 76% from the average daily volume of 314,195,847 shares. The stock had previously closed at $117.70.

Analyst Ratings Changes

A number of brokerages recently commented on NVDA. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. HSBC cut their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Susquehanna reiterated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, DA Davidson dropped their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Price Performance

The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a fifty day simple moving average of $126.92 and a two-hundred day simple moving average of $131.36. 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 posted its 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. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,109 shares of company stock valued at $22,117,015 over the last three months. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Capital Performance Advisors LLP raised its stake in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the period. Palisade Asset Management LLC increased its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the last quarter. SMART Wealth LLC raised its position in shares of NVIDIA by 289.5% in the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares during the period. Blue Square Asset Management LLC boosted its holdings in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management grew its position in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares during the period. Hedge funds and other 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.