NVIDIA (NASDAQ:NVDA) Trading 4.2% Higher – Still a Buy?

NVIDIA Co. (NASDAQ:NVDA) shares traded up 4.2% during trading on Wednesday . The company traded as high as $116.76 and last traded at $113.32. 126,760,996 shares traded hands during trading, a decline of 61% from the average session volume of 325,998,287 shares. The stock had previously closed at $108.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.69.

NVIDIA Price Performance

The firm has a 50-day simple moving average of $130.54 and a 200 day simple moving average of $131.42. The firm has a market cap of $2.83 trillion, a PE ratio of 45.61, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. 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 released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the 3rd quarter worth about $27,000. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth about $38,000. Finally, Luken Investment Analytics LLC acquired a new stake in NVIDIA during the 4th quarter worth approximately $40,000. Hedge funds and other 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.