NVIDIA (NASDAQ:NVDA) Trading Up 1.9% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 1.9% on Thursday . The company traded as high as $119.58 and last traded at $119.74. Approximately 70,990,077 shares changed hands during trading, a decline of 78% from the average daily volume of 317,062,810 shares. The stock had previously closed at $117.52.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NVDA shares. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

The company’s 50 day moving average price is $126.92 and its 200-day moving average price is $131.02. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS 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 analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced 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 yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Buying and Selling

In other news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,109 shares of company stock valued at $22,117,015. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Norges Bank acquired a new position in NVIDIA during the 4th quarter worth about $43,515,504,000. International Assets Investment Management LLC lifted its position in NVIDIA by 12,898.6% during the 3rd 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 purchasing an additional 55,859,917 shares during the period. Clear Street Derivatives LLC acquired a new position in NVIDIA during the 3rd quarter valued at about $4,589,905,000. Northern Trust Corp lifted its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC lifted 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 valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.