NVIDIA (NASDAQ:NVDA) Stock Price Up 2.5% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 2.5% during mid-day trading on Friday . The stock traded as high as $137.31 and last traded at $136.11. 75,795,674 shares were traded during trading, a decline of 81% from the average session volume of 408,360,156 shares. The stock had previously closed at $132.76.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. KeyCorp raised their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Bank of America raised their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Performance

The firm has a fifty day simple moving average of $125.13 and a 200-day simple moving average of $115.47. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.34 trillion, a price-to-earnings ratio of 63.84, a P/E/G ratio of 1.47 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,516,270 shares of company stock worth $291,803,127. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Diversified Investment Strategies LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $357,000. Privium Fund Management UK Ltd acquired a new stake in NVIDIA in the 1st quarter valued at about $2,635,000. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 3.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 9,132 shares of the computer hardware maker’s stock valued at $7,853,000 after purchasing an additional 264 shares during the last quarter. OneAscent Wealth Management LLC lifted its stake in NVIDIA by 49.2% in the 1st quarter. OneAscent Wealth Management LLC now owns 785 shares of the computer hardware maker’s stock valued at $709,000 after purchasing an additional 259 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its stake in NVIDIA by 6.5% in the 1st quarter. OneAscent Financial Services LLC now owns 5,920 shares of the computer hardware maker’s stock valued at $5,349,000 after purchasing an additional 359 shares during the last quarter. 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.