NVIDIA (NASDAQ:NVDA) Trading Up 1.9% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA) shot up 1.9% during trading on Friday . The company traded as high as $133.54 and last traded at $133.22. 87,386,760 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 381,992,906 shares. The stock had previously closed at $130.68.

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Wedbush upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Citigroup lifted their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

The business’s fifty day moving average price is $139.63 and its 200 day moving average price is $127.11. The stock has a market cap of $3.31 trillion, a P/E ratio of 53.13, a PEG ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction 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 NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $201,687,727 over the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently bought and sold shares of the business. SMART Wealth LLC boosted its stake in NVIDIA by 24.6% during the third quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock worth $2,254,000 after buying an additional 3,670 shares during the period. Brass Tax Wealth Management Inc. boosted its holdings in NVIDIA by 53.0% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after acquiring an additional 985 shares during the period. Legacy Wealth Management LLC MS increased its stake in NVIDIA by 60.5% in the third quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after purchasing an additional 16,115 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in shares of NVIDIA by 3.7% during the third quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock valued at $15,552,000 after purchasing an additional 4,523 shares during the period. Finally, Alternative Investment Advisors LLC. increased its stake in NVIDIA by 15.0% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock worth $2,377,000 after buying an additional 2,547 shares during the period. Institutional investors 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.