Traders Buy Nvidia (NVDA) on Weakness

Traders purchased shares of Nvidia (NASDAQ:NVDA) on weakness during trading hours on Friday. $1,047.68 million flowed into the stock on the tick-up and $907.27 million flowed out of the stock on the tick-down, for a money net flow of $140.41 million into the stock. Of all stocks tracked, Nvidia had the 11th highest net in-flow for the day. Nvidia traded down ($7.13) for the day and closed at $214.25

Several analysts have weighed in on NVDA shares. SunTrust Banks reaffirmed a “buy” rating and set a $305.00 target price (up previously from $253.00) on shares of Nvidia in a research note on Friday, February 9th. Vetr raised Nvidia from a “buy” rating to a “strong-buy” rating and set a $218.94 target price on the stock in a research note on Monday, January 1st. Morgan Stanley lifted their target price on Nvidia from $222.00 to $258.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Needham & Company LLC lifted their target price on Nvidia to $300.00 in a research note on Friday, February 9th. Finally, Goldman Sachs downgraded Nvidia from a “conviction-buy” rating to a “buy” rating and set a $281.00 target price on the stock. in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $217.16.

The company has a quick ratio of 7.34, a current ratio of 8.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $136,875.20, a PE ratio of 45.88, a price-to-earnings-growth ratio of 3.56 and a beta of 1.51.

Nvidia (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.56. Nvidia had a return on equity of 45.02% and a net margin of 31.36%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Nvidia’s revenue for the quarter was up 34.0% compared to the same quarter last year. research analysts forecast that Nvidia will post 6.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. Nvidia’s dividend payout ratio is 12.85%.

In other news, Director James C. Gaither sold 40,359 shares of Nvidia stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $245.67, for a total transaction of $9,914,995.53. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark L. Perry sold 17,307 shares of Nvidia stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.93, for a total value of $3,944,784.51. Following the transaction, the director now owns 30,762 shares in the company, valued at approximately $7,011,582.66. The disclosure for this sale can be found here. Insiders have sold 94,959 shares of company stock worth $22,692,182 in the last quarter. 5.82% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of NVDA. Country Trust Bank boosted its position in Nvidia by 490.0% during the fourth quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after purchasing an additional 490 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in Nvidia during the fourth quarter valued at $116,000. Clearbridge Investments LLC boosted its position in Nvidia by 100.0% during the fourth quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock valued at $116,000 after purchasing an additional 300 shares during the last quarter. North Star Investment Management Corp. boosted its position in Nvidia by 67.3% during the fourth quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after purchasing an additional 255 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Nvidia during the fourth quarter valued at $148,000. Institutional investors and hedge funds own 66.94% of the company’s stock.

About Nvidia

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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