NVIDIA (NASDAQ:NVDA) Shares Up 0.9% – Still a Buy?

Shares of NVIDIA Co. (NASDAQ:NVDA) shot up 0.9% during mid-day trading on Tuesday . The company traded as high as $141.90 and last traded at $140.90. 53,989,408 shares traded hands during trading, a decline of 86% from the average session volume of 380,740,906 shares. The stock had previously closed at $139.67.

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Truist Financial increased their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

The company has a market cap of $3.45 trillion, a PE ratio of 55.44, a PEG ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50 day moving average is $139.66 and its 200-day moving average is $127.49.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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 of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,391,886 shares of company stock worth $181,666,050 in the last ninety days. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently made changes to their positions in NVDA. SMART Wealth LLC raised its position in NVIDIA by 24.6% in the third quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock valued at $2,254,000 after purchasing an additional 3,670 shares during the period. Brass Tax Wealth Management Inc. raised its holdings in shares of NVIDIA by 53.0% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after buying an additional 985 shares during the period. Legacy Wealth Management LLC MS lifted its stake in NVIDIA by 60.5% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after acquiring an additional 16,115 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its holdings in NVIDIA by 3.7% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock valued at $15,552,000 after acquiring an additional 4,523 shares during the period. Finally, Alternative Investment Advisors LLC. grew its position in NVIDIA by 15.0% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock valued at $2,377,000 after acquiring an additional 2,547 shares in 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.