NVIDIA (NASDAQ:NVDA) Sets New 1-Year High – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $153.43 and last traded at $153.43, with a volume of 12696967 shares trading hands. The stock had previously closed at $149.43.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVDA. Raymond James increased their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday. Finally, Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 57.18, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a 50 day moving average price of $139.75 and a 200 day moving average price of $128.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226,886 shares of company stock worth $161,499,400 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter worth approximately $27,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the second quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. 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.