NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher – Here’s Why

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

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Wednesday. Barclays upped their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four investment 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. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Price Performance

The business has a fifty day moving average price of $127.28 and a 200 day moving average price of $131.03. 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 company has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on 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 transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,449 shares of company stock worth $11,960,727. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. International Assets Investment Management LLC raised its position in NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after buying an additional 55,859,917 shares during the period. Clear Street Derivatives LLC purchased a new stake in NVIDIA in the 3rd quarter worth about $4,589,905,000. Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.