NVIDIA (NASDAQ:NVDA) Stock Price Up 1.4% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) rose 1.4% during mid-day trading on Wednesday . The company traded as high as $142.63 and last traded at $142.16. Approximately 54,822,007 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 390,529,406 shares. The stock had previously closed at $140.26.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Morgan Stanley raised their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 3.6 %

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 business’s 50 day simple moving average is $136.89 and its 200 day simple moving average is $124.75. The company has a market capitalization of $3.56 trillion, a PE ratio of 55.95, a P/E/G ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its 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 net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,916,986 shares of company stock valued at $227,311,199. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently added to or reduced their stakes in the business. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter worth approximately $27,000. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth approximately $27,000. Finally, CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $26,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.