NVIDIA (NASDAQ:NVDA) Trading 4.3% Higher – Should You Buy?

Shares of NVIDIA Co. (NASDAQ:NVDA) shot up 4.3% during mid-day trading on Friday . The stock traded as high as $120.68 and last traded at $120.58. 98,189,755 shares were traded during mid-day trading, a decline of 70% from the average session volume of 323,124,205 shares. The stock had previously closed at $115.58.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial boosted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

The firm’s 50-day moving average is $129.26 and its 200-day moving average is $131.19. The company has a market capitalization of $2.97 trillion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,039,125 shares of company stock worth $137,062,338. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA in the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.