NVIDIA (NASDAQ:NVDA) Stock Price Up 1.8% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 1.8% during mid-day trading on Thursday . The stock traded as high as $132.06 and last traded at $131.28. Approximately 69,340,947 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 382,614,281 shares. The stock had previously closed at $128.91.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. UBS Group lifted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four 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. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

The firm has a 50-day simple moving average of $139.72 and a two-hundred day simple moving average of $127.08. The company has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 51.88, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the company earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,628,156 shares of company stock worth $209,985,077. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter worth approximately $27,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the second quarter worth about $26,000. Quest Partners LLC acquired a new position in NVIDIA during the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the 2nd quarter valued at about $31,000. Finally, Gleason Group Inc. increased its holdings in shares of NVIDIA by 900.0% in the second quarter. Gleason Group Inc. now owns 280 shares of the computer hardware maker’s stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. 65.27% of the stock is 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.