NVIDIA (NASDAQ:NVDA) Shares Up 1.9% – Here’s What Happened

Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 1.9% on Thursday . The company traded as high as $176.15 and last traded at $174.14. 173,932,459 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 223,229,719 shares. The stock had previously closed at $170.94.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVDA shares. BNP Paribas Exane boosted their target price on NVIDIA from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Bank of America boosted their price objective on shares of NVIDIA from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a report on Tuesday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of NVIDIA in a report on Thursday, November 20th. Finally, Robert W. Baird set a $275.00 price target on shares of NVIDIA and gave the company an “outperform” rating in a report on Thursday, November 20th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $261.67.

NVIDIA Trading Up 1.9%

The business has a 50-day moving average price of $186.00 and a 200-day moving average price of $174.63. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.23 trillion, a P/E ratio of 43.21, a PEG ratio of 0.87 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.NVIDIA’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s payout ratio is presently 0.99%.

Insider Buying and Selling at NVIDIA

In related news, Director Harvey C. Jones sold 250,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $177.33, for a total value of $44,332,500.00. Following the sale, the director owned 6,933,280 shares of the company’s stock, valued at $1,229,478,542.40. The trade was a 3.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $188.40, for a total value of $14,130,000.00. Following the completion of the sale, the chief executive officer owned 70,933,203 shares in the company, valued at $13,363,815,445.20. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,679,474 shares of company stock worth $487,070,117 in the last three months. 4.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Harbor Asset Planning Inc. bought a new stake in NVIDIA during the 2nd quarter worth approximately $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA during the second quarter worth $32,000. Longfellow Investment Management Co. LLC increased its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at $40,000. Finally, Kathleen S. Wright Associates Inc. grew its holdings in NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds 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.