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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NVDA shares. Robert W. Baird lifted their target price 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. HSBC dropped their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.76.

NVIDIA Stock Up 0.4 %

The company has a 50 day simple moving average of $127.71 and a two-hundred day simple moving average of $131.12. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.88 trillion, a P/E ratio of 46.52, a PEG ratio of 1.76 and a beta of 1.77.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’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 transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock worth $11,960,727 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of large investors have recently modified their holdings of NVDA. Palisade Asset Management LLC raised its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares in the last quarter. SMART Wealth LLC raised its stake in NVIDIA by 289.5% in the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC raised its stake in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Narwhal Capital Management raised its stake in NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. raised its stake in NVIDIA by 46.7% in the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after buying an additional 5,360 shares in 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.