NVIDIA (NASDAQ:NVDA) Hits New 52-Week High – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $153.43 and last traded at $153.43, with a volume of 12696967 shares trading hands. The stock had previously closed at $149.43.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Finally, Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. 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’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

The firm has a 50-day moving average of $139.74 and a 200-day moving average of $128.46. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’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 owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $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 sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of NVIDIA in the third quarter valued at approximately $36,000. 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.