NVIDIA (NASDAQ:NVDA) Shares Up 2.6% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 2.6% during trading on Thursday . The company traded as high as $138.37 and last traded at $137.80. 66,855,267 shares changed hands during trading, a decline of 82% from the average session volume of 377,359,844 shares. The stock had previously closed at $134.29.

Analysts Set New Price Targets

A number of research analysts recently commented on NVDA shares. Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Benchmark boosted their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Melius Research increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 1.2 %

The company has a fifty day moving average of $139.55 and a two-hundred day moving average of $128.09. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 53.48, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. On average, research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock worth $161,499,400 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter valued at $27,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter worth about $31,000. West Financial Advisors LLC acquired a new position in NVIDIA in the 3rd quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.