NVIDIA (NASDAQ:NVDA) Trading 4.2% Higher – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) shares shot up 4.2% on Wednesday . The stock traded as high as $116.76 and last traded at $113.32. 126,760,996 shares were traded during mid-day trading, a decline of 61% from the average session volume of 325,998,287 shares. The stock had previously closed at $108.75.

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research report on Monday, February 24th. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Raymond James raised their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective (up previously from $152.00) on shares of NVIDIA in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.69.

NVIDIA Price Performance

The stock has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 45.61, a PEG ratio of 1.76 and a beta of 1.77. The stock’s 50 day simple moving average is $130.54 and its 200-day simple moving average is $131.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,107,632 shares of company stock worth $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Centaurus Financial Inc. raised its position in NVIDIA by 20.1% during the fourth quarter. Centaurus Financial Inc. now owns 328,362 shares of the computer hardware maker’s stock valued at $44,096,000 after purchasing an additional 54,948 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at about $5,764,000. Campbell Deegan Wealth Management LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $764,000. Lighthouse Financial LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at about $11,981,000. Finally, Anchor Pointe Wealth Management LLC purchased a new position in NVIDIA in the 4th quarter worth approximately $1,550,000. Institutional investors and hedge funds 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.