NVIDIA (NASDAQ:NVDA) Trading Up 2.1% – Time to Buy?

NVIDIA Corporation (NASDAQ:NVDA)’s share 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 changed 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citic Securities boosted their target price on shares of NVIDIA from $237.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Barclays upped their price objective on NVIDIA from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Wall Street Zen raised NVIDIA from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. CICC Research upped their price target on NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and set a $265.00 price objective on shares of NVIDIA in a report on Thursday, November 20th. Five research analysts have rated the stock with a Strong Buy rating, forty-six have issued 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, NVIDIA currently has an average rating of “Buy” and a consensus price target of $258.65.

NVIDIA Price Performance

The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 45.26, a P/E/G ratio of 0.90 and a beta of 2.29. The company has a fifty day moving average price of $187.13 and a two-hundred day moving average price of $171.82.

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

NVIDIA Announces Dividend

The firm also recently announced 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 is Thursday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is 0.99%.

Insider Buying and Selling

In related news, Director Harvey C. Jones sold 250,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was 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 $1,265,765,768.80. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $176.39, for a total value of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,949,931 shares of company stock valued at $531,605,955 over the last quarter. 4.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after acquiring an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after purchasing an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE lifted its stake in shares of NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC boosted its holdings in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after buying an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. grew its position in NVIDIA by 15.7% during the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock worth $715,000 after buying an additional 896 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.