NVIDIA (NASDAQ:NVDA) Stock Price Up 2.6% - Still a Buy?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price rose 2.6% during trading on Monday . The stock traded as high as $139.25 and last traded at $138.85. Approximately 194,776,546 shares traded hands during trading, a decline of 33% from the average daily volume of 291,045,696 shares. The stock had previously closed at $135.29.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Melius Research upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Raymond James upped their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $168.21.

NVIDIA Stock Down 4.1 %

The firm has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.87, a P/E/G ratio of 1.75 and a beta of 1.62. The business's 50-day moving average is $134.66 and its two-hundred day moving average is $130.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business's quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm's 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 in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm'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 transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company's stock.

Institutional Trading of NVIDIA

Several hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in 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.