NVIDIA (NASDAQ:NVDA) Trading 1.9% Higher – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $240.00 price objective (up previously from $210.00) on shares of NVIDIA in a research report on Friday, October 31st. Evercore ISI set a $352.00 target price on NVIDIA and gave the company an “outperform” rating in a research note on Thursday, November 20th. New Street Research reaffirmed a “buy” rating and set a $307.00 price target on shares of NVIDIA in a research note on Thursday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $265.00 price objective on shares of NVIDIA in a research report on Thursday, November 20th. Finally, S&P Equity Research reissued a “positive” rating on shares of NVIDIA in a report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Buy” and an average target price of $261.67.

NVIDIA Price Performance

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

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

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 69,840 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $177.85, for a total value of $12,421,044.00. Following the completion of the sale, the executive vice president directly owned 1,424,603 shares in the company, valued at $253,365,643.55. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 12,728 shares of NVIDIA stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $183.93, for a total value of $2,341,061.04. 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 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Several hedge funds have recently bought and sold shares of the stock. Harbor Asset Planning Inc. acquired a new stake in shares of NVIDIA in the 2nd quarter valued at about $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth approximately $32,000. Longfellow Investment Management Co. LLC lifted its stake in 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 acquiring an additional 67 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in NVIDIA during the second quarter worth about $40,000. Finally, Kathleen S. Wright Associates Inc. increased its position in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after buying an additional 254 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.