NVIDIA (NASDAQ:NVDA) Trading 1.5% Higher – What’s Next?

NVIDIA Corporation (NASDAQ:NVDA)’s share price rose 1.5% during trading on Monday . The stock traded as high as $188.00 and last traded at $185.1620. Approximately 191,630,346 shares traded hands during trading, a decline of 15% from the average daily volume of 224,807,125 shares. The stock had previously closed at $182.41.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of NVIDIA in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $265.00 price target (up from $220.00) on shares of NVIDIA in a research note on Friday, November 14th. Truist Financial boosted their price target on NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of NVIDIA in a research note on Thursday, November 20th. Finally, Benchmark boosted their target price on shares of NVIDIA from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $258.65.

NVIDIA Stock Performance

The stock’s 50-day moving average price is $187.10 and its 200 day moving average price is $173.19. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.47 trillion, a P/E ratio of 45.60, a price-to-earnings-growth ratio of 0.91 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was up 62.5% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. As a group, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio is presently 0.99%.

Insiders Place Their Bets

In other news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the transaction, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 80,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total transaction of $14,772,000.00. Following the completion of the sale, the executive vice president owned 1,654,443 shares in the company, valued at approximately $305,492,899.95. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,229,931 shares of company stock valued at $583,937,455. Corporate insiders own 4.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL grew its position in NVIDIA by 7.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 19,937 shares of the computer hardware maker’s stock worth $3,720,000 after buying an additional 1,412 shares in the last quarter. Crosspoint Financial LLC grew its holdings in shares of NVIDIA by 1.6% during the 3rd quarter. Crosspoint Financial LLC now owns 3,737 shares of the computer hardware maker’s stock worth $697,000 after purchasing an additional 60 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of NVIDIA by 5.3% during the third quarter. Swiss Life Asset Management Ltd now owns 8,508,387 shares of the computer hardware maker’s stock valued at $1,587,495,000 after purchasing an additional 427,202 shares during the period. Steadtrust LLC raised its stake in shares of NVIDIA by 99.7% in the third quarter. Steadtrust LLC now owns 4,872 shares of the computer hardware maker’s stock valued at $909,000 after purchasing an additional 2,432 shares in the last quarter. Finally, Stillwater Wealth Management Group bought a new position in NVIDIA in the third quarter worth $5,020,000. Institutional investors and hedge funds 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.