NVIDIA (NASDAQ:NVDA) Trading 1.9% Higher – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 1.9% on Monday . The stock traded as high as $144.90 and last traded at $144.35. Approximately 52,775,304 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 277,770,626 shares. The stock had previously closed at $141.72.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Citigroup reiterated a “buy” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. Mizuho upped their price target on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have issued 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 $171.66.

NVIDIA Price Performance

The firm has a market capitalization of $3.48 trillion, a P/E ratio of 56.11, a P/E/G ratio of 1.76 and a beta of 2.12. The stock’s 50 day simple moving average is $118.45 and its 200 day simple moving average is $126.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Activity

In related news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred 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 $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,255,320 shares of company stock worth $172,680,419. Corporate insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in the business. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $40,000. Copia Wealth Management purchased a new stake in shares of NVIDIA during the fourth quarter valued at $50,000. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA during the fourth quarter valued at $54,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.