NVIDIA (NASDAQ:NVDA) Stock Price Up 5% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA) traded up 5% on Monday . The stock traded as high as $151.99 and last traded at $151.76. 108,749,282 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 173,627,969 shares. The stock had previously closed at $144.47.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. Needham & Company LLC boosted their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Wedbush upped their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Up 3.9 %

The company has a market cap of $3.68 trillion, a price-to-earnings ratio of 59.08, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s fifty day moving average is $139.57 and its two-hundred day moving average is $128.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,226,886 shares of company stock worth $161,499,400. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. Hoertkorn Richard Charles grew its stake in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares in the last quarter. Smart Portfolios LLC boosted its stake in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Total Wealth Planning LLC boosted its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its holdings in NVIDIA by 0.3% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares during the period. 65.27% of the stock is currently 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.