NVIDIA (NASDAQ:NVDA) Shares Up 2.1% – Here’s Why

NVIDIA Corporation (NASDAQ:NVDA)’s stock price was up 2.1% during mid-day trading on Thursday . The stock traded as high as $184.52 and last traded at $183.38. Approximately 166,009,423 shares traded hands during trading, a decline of 26% from the average daily volume of 225,291,297 shares. The stock had previously closed at $179.59.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVDA. Raymond James Financial set a $272.00 price target on NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, November 20th. Mizuho upped their price target on shares of NVIDIA from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Loop Capital boosted their price objective on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Arete lifted their price target on shares of NVIDIA from $244.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $250.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $258.65.

NVIDIA Stock Performance

The stock’s 50 day moving average is $186.94 and its 200 day moving average is $171.41. The stock has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 45.50, a PEG ratio of 0.89 and a beta of 2.29. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is currently 0.99%.

Insider Buying and Selling

In related news, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the transaction, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $177.57, for a total transaction of $13,317,750.00. Following the completion of the transaction, the chief executive officer owned 72,248,366 shares of the company’s stock, valued at $12,829,142,350.62. This trade represents a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,949,931 shares of company stock valued at $531,605,955. 4.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently modified their holdings of the business. Harbor Asset Planning Inc. purchased a new stake in shares of NVIDIA in the second quarter valued at $28,000. Winnow Wealth LLC acquired a new position in NVIDIA during the second quarter valued at $32,000. Longfellow Investment Management Co. LLC lifted its stake in NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares in the last quarter. Spurstone Advisory Services LLC purchased a new position in NVIDIA during the second quarter valued at approximately $40,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at $50,000. Institutional investors 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.