NVIDIA (NASDAQ:NVDA) Trading Up 1.6% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 1.6% on Thursday . The company traded as high as $127.50 and last traded at $126.86. 87,299,014 shares changed hands during trading, a decline of 70% from the average session volume of 288,304,344 shares. The stock had previously closed at $124.83.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Trading Up 0.9 %

The company’s fifty day moving average is $135.31 and its 200-day moving average is $129.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $3.18 trillion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of NVIDIA in the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA in the third quarter valued at approximately $27,000. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter worth approximately $31,000. Finally, Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds 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.