NVIDIA (NASDAQ:NVDA) Shares Up 3.4% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) traded up 3.4% during trading on Friday . The company traded as high as $144.22 and last traded at $142.96. 91,587,187 shares were traded during trading, a decline of 35% from the average session volume of 139,990,906 shares. The stock had previously closed at $138.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVDA shares. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup increased their target price 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. Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.54 trillion, a PE ratio of 56.82, a PEG ratio of 2.43 and a beta of 1.63. The business’s 50-day moving average is $139.51 and its 200 day moving average is $128.16.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,226,886 shares of company stock worth $161,499,400 in the last three months. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Large investors have recently made changes to their positions in the business. Hoertkorn Richard Charles grew its position in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC grew its holdings in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC increased its position in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Total Wealth Planning LLC raised its holdings in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH lifted its position in NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other 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.