NVIDIA (NASDAQ:NVDA) Trading 3.6% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVDA. Mizuho dropped their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Trading Down 0.6 %

The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $126.46 and a 200 day simple moving average of $131.58.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid 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 is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of NVDA. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter valued at about $43,515,504,000. International Assets Investment Management LLC increased its position in shares of NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of NVIDIA during the third quarter worth $4,589,905,000. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.