NVIDIA (NASDAQ:NVDA) Stock Price Up 1.9% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 1.9% during trading on Thursday . The company traded as high as $119.58 and last traded at $119.74. Approximately 70,990,077 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 317,062,810 shares. The stock had previously closed at $117.52.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NVDA shares. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday. Truist Financial upped their price target on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Finally, Robert W. Baird upped their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $171.76.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The stock has a 50 day moving average price of $127.71 and a 200-day moving average price of $131.12.

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

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,449 shares of company stock valued at $11,960,727 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA in the fourth quarter valued at $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. 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.