NVIDIA (NASDAQ:NVDA) Stock Price Up 2.4% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA) rose 2.4% during trading on Monday . The stock traded as high as $101.75 and last traded at $96.60. Approximately 274,209,339 shares were traded during trading, a decline of 12% from the average daily volume of 312,811,228 shares. The stock had previously closed at $94.31.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVDA. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Mizuho decreased their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Trading Up 3.5 %

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 cap of $2.38 trillion, a PE ratio of 38.43, a PEG ratio of 1.76 and a beta of 1.96. The firm has a fifty day simple moving average of $120.78 and a two-hundred day simple moving average of $131.05.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is presently 1.36%.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now 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. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. FMR LLC boosted its holdings in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp raised its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.