NVIDIA (NASDAQ:NVDA) Trading Up 1.1% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $138.05 and last traded at $136.53. 54,600,455 shares traded hands during trading, a decline of 86% from the average session volume of 386,551,125 shares. The stock had previously closed at $135.07.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Up 3.4 %

The stock has a 50-day simple moving average of $138.87 and a 200 day simple moving average of $126.24. 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 market cap of $3.42 trillion, a price-to-earnings ratio of 53.75, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company 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 firm posted $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. Geode Capital Management LLC increased its stake in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. Legal & General Group Plc increased its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after buying an additional 6,526,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after buying an additional 2,042,348 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.