NVIDIA (NASDAQ:NVDA) Stock Price Up 3.6% – Still a Buy?

NVIDIA Co. (NASDAQ:NVDA) shares shot up 3.6% during trading on Monday . The stock traded as high as $121.68 and last traded at $121.93. 74,666,268 shares changed hands during trading, a decline of 76% from the average session volume of 314,195,847 shares. The stock had previously closed at $117.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVDA. Bank of America reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Four investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Up 3.6 %

The company has a 50 day moving average of $126.92 and a two-hundred day moving average of $131.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $2.98 trillion, a PE ratio of 47.99, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In related news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,109 shares of company stock worth $22,117,015 over the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth about $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 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.