NVIDIA (NASDAQ:NVDA) Stock Price Up 1.3% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 1.3% on Wednesday . The company traded as high as $118.16 and last traded at $116.94. Approximately 76,843,477 shares traded hands during trading, a decline of 76% from the average daily volume of 318,684,005 shares. The stock had previously closed at $115.43.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley reiterated an “overweight” rating and set a $162.00 target price (up from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. HSBC decreased their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, Mizuho decreased their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Trading Up 2.1 %

The company’s 50 day moving average is $128.17 and its two-hundred day moving average is $131.21. 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 firm has a market cap of $2.88 trillion, a P/E ratio of 46.38, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend 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, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the fourth quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. 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.