NVIDIA (NASDAQ:NVDA) Stock Price Up 0.9% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA) shares traded up 0.9% during trading on Tuesday . The company traded as high as $141.90 and last traded at $140.90. 53,989,408 shares changed 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.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Benchmark lifted their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. William Blair started coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Up 0.4 %

The firm has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $139.93 and a 200-day simple moving average of $127.71.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock valued at $181,666,050 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. SMART Wealth LLC increased its holdings in shares of NVIDIA by 24.6% in the third quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock worth $2,254,000 after purchasing an additional 3,670 shares during the last quarter. Brass Tax Wealth Management Inc. increased its stake in 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 worth $346,000 after acquiring an additional 985 shares during the last quarter. Legacy Wealth Management LLC MS increased its stake in NVIDIA by 60.5% in 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 during the last quarter. SPX Gestao de Recursos Ltda boosted its position in shares of 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 last quarter. Finally, Alternative Investment Advisors LLC. grew its holdings in shares of NVIDIA by 15.0% in the third quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock valued at $2,377,000 after purchasing an additional 2,547 shares in 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.