NVIDIA (NASDAQ:NVDA) Trading 4.3% Higher – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 4.3% during trading on Wednesday . The stock traded as high as $136.20 and last traded at $135.99. Approximately 74,412,961 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 383,089,031 shares. The stock had previously closed at $130.39.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Susquehanna raised their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Robert W. Baird raised their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 1.4 %

The stock has a market cap of $3.20 trillion, a P/E ratio of 51.43, a PEG ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $139.63 and a 200-day simple moving average of $127.11.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 directly owns 28,671,360 shares of the company’s stock, 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. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 in the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently modified their holdings of the company. Hoertkorn Richard Charles raised its stake in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares in the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares in the last quarter. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Total Wealth Planning LLC boosted its holdings in NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH grew its stake in shares of NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds 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.