NVIDIA (NASDAQ:NVDA) Stock Price Up 2.2% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA)’s share price shot up 2.2% during trading on Tuesday . The company traded as high as $110.99 and last traded at $109.32. 131,679,982 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 327,346,540 shares. The stock had previously closed at $106.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVDA shares. Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. DA Davidson reissued a “neutral” rating and set a $135.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. Barclays raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Raymond James boosted their price objective 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, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four equities research 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 company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.69.

NVIDIA Stock Performance

The stock’s fifty day simple moving average is $130.17 and its 200 day simple moving average is $131.31. The company has a market cap of $2.82 trillion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

The firm also recently disclosed 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 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 payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,110,295 shares of company stock valued at $146,698,216 over the last 90 days. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $27,000. Tacita Capital Inc purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the 4th quarter worth $38,000. Finally, Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter worth $40,000. 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.