NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher – Should You Buy?

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 1.3% during trading on Wednesday . The stock traded as high as $118.16 and last traded at $116.94. 76,843,477 shares changed hands during trading, a decline of 76% from the average session volume of 318,684,005 shares. The stock had previously closed at $115.43.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday. JPMorgan Chase & Co. raised their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $162.00 price objective (up previously from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

The business’s fifty day moving average is $128.17 and its 200 day moving average is $131.21. The company has a market cap of $2.88 trillion, a P/E ratio of 46.38, a PEG ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This 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 90 days. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. DSG Capital Advisors LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $17,052,000. Chancellor Financial Group WB LP purchased a new stake in NVIDIA in the fourth quarter valued at approximately $3,966,000. Triton Wealth Management PLLC lifted its position in NVIDIA by 4.6% during the fourth quarter. Triton Wealth Management PLLC now owns 51,074 shares of the computer hardware maker’s stock valued at $7,469,000 after purchasing an additional 2,259 shares during the last quarter. 111 Capital purchased a new position in NVIDIA in the 4th quarter worth approximately $17,419,000. Finally, Thoma Capital Management LLC bought a new position in shares of NVIDIA in the 4th quarter worth $1,558,000. 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.