NVIDIA (NASDAQ:NVDA) Trading 1% Higher - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) rose 1% on Tuesday . The stock traded as high as $140.21 and last traded at $139.05. Approximately 59,934,831 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 210,617,031 shares. The stock had previously closed at $137.71.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVDA shares. Stifel Nicolaus raised their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Loop Capital restated a "buy" rating and set a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a "buy" rating and a $178.00 target price for the company. Finally, HSBC cut their price target on NVIDIA from $195.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.63.

NVIDIA Stock Up 2.5 %

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 firm has a 50 day simple moving average of $138.84 and a two-hundred day simple moving average of $129.11. The company has a market capitalization of $3.46 trillion, a PE ratio of 55.49, a P/E/G ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm's revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were 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 was Thursday, December 5th. NVIDIA's dividend payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm's 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 directly owns 3,351,572 shares of the company's stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVDA. Hoertkorn Richard Charles raised its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock valued at $424,000 after acquiring an additional 70 shares during the period. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC lifted its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Kwmg LLC grew its holdings in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after buying an additional 77 shares in the last quarter. Finally, Total Wealth Planning LLC lifted its holdings in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker's stock worth $276,000 after buying an additional 78 shares in the last quarter. Hedge funds and other 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.

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