NVIDIA (NASDAQ:NVDA) Stock Price Up 3.6% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) shares shot up 3.6% during trading on Monday . The stock traded as high as $121.68 and last traded at $121.93. Approximately 74,666,268 shares were traded during trading, a decline of 76% from the average daily volume of 314,195,847 shares. The stock had previously closed at $117.70.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVDA. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. DA Davidson decreased their price target on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Truist Financial lifted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Down 0.6 %

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.94 trillion, a PE ratio of 47.50, a P/E/G ratio of 1.76 and a beta of 1.77. The business’s fifty day moving average is $126.46 and its 200-day moving average is $131.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $38.16 billion. As a group, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s 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 transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,609 shares of company stock valued at $22,642,615. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Avant Financial Advisors LLC acquired a new stake in NVIDIA during the fourth quarter valued at approximately $536,000. Fire Capital Management LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $13,937,000. Mascagni Wealth Management Inc. acquired a new stake in shares of NVIDIA in the 4th quarter worth about $3,520,000. Prostatis Group LLC increased its stake in shares of NVIDIA by 5.2% in the fourth quarter. Prostatis Group LLC now owns 26,004 shares of the computer hardware maker’s stock valued at $3,492,000 after purchasing an additional 1,294 shares during the period. Finally, Fairtree Asset Management Pty Ltd bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $639,000. 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.