NVIDIA (NASDAQ:NVDA) Stock Price Up 2.4% - Time to Buy?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price traded up 2.4% during mid-day trading on Monday . The stock traded as high as $101.75 and last traded at $96.60. 274,209,339 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 312,811,228 shares. The stock had previously closed at $94.31.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVDA shares. Wedbush reissued an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Bank of America restated a "buy" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $168.39.

NVIDIA Price Performance

The company has a market capitalization of $2.71 trillion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The firm's 50 day simple moving average is $118.95 and its 200 day simple moving average is $130.36. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AMF Tjanstepension AB boosted its holdings in NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker's stock worth $976,348,000 after buying an additional 169,445 shares in the last quarter. Wealth Group Ltd. grew its position in shares of NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker's stock valued at $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB grew its holdings in shares of NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Finally, GSB Wealth Management LLC increased its holdings in shares of NVIDIA by 4.4% during the 3rd quarter. GSB Wealth Management LLC now owns 31,852 shares of the computer hardware maker's stock worth $3,868,000 after buying an additional 1,353 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.