NVIDIA (NASDAQ:NVDA) Trading Up 1.4% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) were up 1.4% during mid-day trading on Friday . The stock traded as high as $138.31 and last traded at $137.14. Approximately 70,772,307 shares were traded during trading, a decline of 74% from the average daily volume of 271,085,875 shares. The stock had previously closed at $135.29.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, January 27th. Robert W. Baird boosted their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HSBC dropped their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday, January 8th. Finally, Benchmark restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Stock Performance

The business’s 50-day simple moving average is $134.59 and its two-hundred day simple moving average is $129.88. 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 firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.12, a P/E/G 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 earnings per share 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 prior year, the firm posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid 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 yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. increased its holdings in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Palisade Asset Management LLC raised 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 acquiring an additional 75 shares during the period. Blue Square Asset Management LLC boosted its position in shares of NVIDIA by 26.7% during the 3rd 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 holdings in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.