NVIDIA (NASDAQ:NVDA) Trading 0.5% Higher – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA)’s share price shot up 0.5% on Tuesday . The company traded as high as $134.48 and last traded at $134.28. 63,672,471 shares were traded during mid-day trading, a decline of 77% from the average session volume of 281,269,250 shares. The stock had previously closed at $133.57.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVDA. Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $170.00 to $220.00 in a research note on Tuesday, January 28th. Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley decreased their price objective on NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Mizuho raised their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Stock Performance

The stock has a 50 day simple moving average of $135.21 and a two-hundred day simple moving average of $129.70. The company has a market capitalization of $3.27 trillion, a price-to-earnings ratio of 52.49, a PEG ratio of 1.62 and a beta of 1.62. 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 quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was 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%.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently added to or reduced their stakes in NVDA. Intellus Advisors LLC purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $6,163,000. Forefront Wealth Management Inc. purchased a new stake in NVIDIA during the fourth quarter worth $529,000. Sei Investments Co. boosted its position in NVIDIA by 3.8% during the fourth quarter. Sei Investments Co. now owns 15,212,771 shares of the computer hardware maker’s stock worth $2,042,921,000 after purchasing an additional 550,621 shares in the last quarter. Plancorp LLC boosted its position in NVIDIA by 6.3% during the fourth quarter. Plancorp LLC now owns 48,780 shares of the computer hardware maker’s stock worth $6,551,000 after purchasing an additional 2,873 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter worth about $5,048,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.