NVIDIA (NASDAQ:NVDA) Stock Price Up 0.2% – Still a Buy?

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 0.2% on Thursday . The company traded as high as $138.75 and last traded at $136.58. Approximately 71,335,547 shares changed hands during trading, a decline of 67% from the average daily volume of 213,135,000 shares. The stock had previously closed at $136.24.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.27.

NVIDIA Stock Performance

The company’s 50 day moving average price is $139.68 and its 200-day moving average price is $128.82. 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 company has a market cap of $3.30 trillion, a PE ratio of 53.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $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. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Large investors have recently bought and sold shares of the stock. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. grew its holdings in shares of NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 3,240 shares in the last quarter. Rooted Wealth Advisors Inc. boosted its stake in NVIDIA by 907.3% during the second quarter. Rooted Wealth Advisors Inc. now owns 14,576 shares of the computer hardware maker’s stock worth $1,765,000 after buying an additional 13,129 shares during the last quarter. New Millennium Group LLC increased its stake in shares of NVIDIA by 975.1% in the 2nd quarter. New Millennium Group LLC now owns 147,763 shares of the computer hardware maker’s stock worth $18,255,000 after acquiring an additional 134,019 shares during the last quarter. Finally, Roger Wittlin Investment Advisory LLC boosted its position in shares of NVIDIA by 900.0% during the 2nd quarter. Roger Wittlin Investment Advisory LLC now owns 2,470 shares of the computer hardware maker’s stock valued at $305,000 after acquiring an additional 2,223 shares during the last quarter. 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.