NVIDIA (NASDAQ:NVDA) Stock Price Up 0.3% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 0.3% on Wednesday . The company traded as high as $143.95 and last traded at $140.54. Approximately 93,241,528 shares changed hands during trading, a decline of 59% from the average daily volume of 226,265,984 shares. The stock had previously closed at $140.14.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Performance

The stock has a 50 day simple moving average of $139.72 and a 200 day simple moving average of $128.37. The stock has a market cap of $3.43 trillion, a P/E ratio of 55.10, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,071,886 shares of company stock valued at $140,997,550. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the 3rd quarter worth about $27,000. Quest Partners LLC purchased a new stake in NVIDIA in the second quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the 4th quarter valued at $34,000. Finally, West Financial Advisors LLC purchased a new stake in NVIDIA during the third quarter valued at $36,000. 65.27% of the stock is currently owned by institutional investors.

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.