NVIDIA (NASDAQ:NVDA) Shares Up 4.3% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA)’s share price shot up 4.3% during mid-day trading on Friday . The stock traded as high as $120.68 and last traded at $120.58. 98,189,755 shares were traded during mid-day trading, a decline of 70% from the average session volume of 323,124,205 shares. The stock had previously closed at $115.58.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Barclays lifted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, 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 report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Up 5.3 %

The business has a 50 day moving average of $129.26 and a 200 day moving average of $131.19. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, research analysts forecast 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 will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,039,125 shares of company stock valued at $137,062,338 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tableaux LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at $268,000. Keystone Financial Services LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at $1,020,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of NVIDIA during the 4th quarter valued at $1,288,798,000. Silver Oak Wealth Advisors Services LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at $591,000. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of NVIDIA during the 4th quarter valued at $21,218,000. Institutional investors and hedge funds 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.