Traders Buy Shares of NVIDIA (NVDA) on Weakness

Traders bought shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading on Friday. $613.86 million flowed into the stock on the tick-up and $561.20 million flowed out of the stock on the tick-down, for a money net flow of $52.66 million into the stock. Of all companies tracked, NVIDIA had the 5th highest net in-flow for the day. NVIDIA traded down ($0.50) for the day and closed at $191.49

A number of equities analysts recently issued reports on NVDA shares. Susquehanna Bancshares restated a “neutral” rating and issued a $140.00 target price on shares of NVIDIA in a research note on Wednesday, August 16th. Oppenheimer restated a “hold” rating on shares of NVIDIA in a research note on Sunday, November 5th. Vetr lowered NVIDIA from a “buy” rating to a “hold” rating and set a $172.54 price objective for the company. in a research note on Thursday, August 31st. Instinet reiterated a “reduce” rating and set a $110.00 price objective (up previously from $90.00) on shares of NVIDIA in a research note on Monday, August 14th. Finally, Jefferies Group lifted their price objective on NVIDIA from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $187.38.

The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $116,042.95, a PE ratio of 47.17, a P/E/G ratio of 4.46 and a beta of 1.18.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the firm earned $0.94 EPS. The company’s quarterly revenue was up 31.5% on a year-over-year basis. equities research analysts forecast that NVIDIA Corporation will post 4.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.31%. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. NVIDIA’s payout ratio is presently 14.89%.

In related news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $185.65, for a total value of $18,565,000.00. Following the sale, the director now directly owns 30,762 shares in the company, valued at approximately $5,710,965.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 50,000 shares of NVIDIA stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,175 shares of company stock worth $59,428,079. 5.82% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. TrimTabs Asset Management LLC boosted its holdings in NVIDIA by 17.0% in the 3rd quarter. TrimTabs Asset Management LLC now owns 2,227 shares of the computer hardware maker’s stock worth $398,000 after buying an additional 324 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in NVIDIA in the 3rd quarter worth about $235,000. Optimum Investment Advisors acquired a new stake in NVIDIA in the 3rd quarter worth about $322,000. GSA Capital Partners LLP acquired a new stake in NVIDIA in the 3rd quarter worth about $1,407,000. Finally, Wealthsource Partners LLC acquired a new stake in NVIDIA in the 3rd quarter worth about $200,000. Institutional investors own 63.51% of the company’s stock.

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NVIDIA Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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