NVIDIA (NASDAQ:NVDA) Stock Price Up 0.3% – Still a Buy?

Shares of NVIDIA Co. (NASDAQ:NVDA) shot up 0.3% during trading on Wednesday . The company traded as high as $143.95 and last traded at $140.54. 93,241,528 shares were traded during trading, a decline of 59% from the average session volume of 226,265,984 shares. The stock had previously closed at $140.14.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVDA. Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. DA Davidson increased their price objective on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

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 55.10, a PEG ratio of 2.43 and a beta of 1.64. The stock has a fifty day moving average of $139.72 and a two-hundred day moving average of $128.37.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’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 value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s 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 sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,071,886 shares of company stock valued at $140,997,550. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hilltop Wealth Advisors LLC grew its holdings in NVIDIA by 7.3% during the fourth quarter. Hilltop Wealth Advisors LLC now owns 4,944 shares of the computer hardware maker’s stock valued at $664,000 after purchasing an additional 338 shares during the period. Weaver Consulting Group increased its holdings in NVIDIA by 0.4% during the 4th quarter. Weaver Consulting Group now owns 23,925 shares of the computer hardware maker’s stock worth $3,213,000 after acquiring an additional 86 shares during the period. Sterneck Capital Management LLC lifted its stake in NVIDIA by 56.5% in the 4th quarter. Sterneck Capital Management LLC now owns 3,505 shares of the computer hardware maker’s stock worth $471,000 after purchasing an additional 1,266 shares in the last quarter. McAlister Sweet & Associates Inc. boosted its holdings in NVIDIA by 1.0% in the 4th quarter. McAlister Sweet & Associates Inc. now owns 49,572 shares of the computer hardware maker’s stock valued at $6,657,000 after purchasing an additional 509 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the fourth quarter worth $34,000. 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.