NVIDIA (NASDAQ:NVDA) Stock Price Up 1.4% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) traded up 1.4% during trading on Wednesday . The stock traded as high as $142.63 and last traded at $142.16. 54,822,007 shares traded hands during trading, a decline of 86% from the average session volume of 390,529,406 shares. The stock had previously closed at $140.26.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC upped their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Up 3.6 %

The firm’s 50-day moving average price is $136.89 and its 200 day moving average price is $124.75. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 55.95, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,916,986 shares of company stock valued at $227,311,199. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is 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.