NVIDIA (NASDAQ:NVDA) Stock Price Up 0.2% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shares rose 0.2% during trading on Tuesday after UBS Group raised their price target on the stock from $1,100.00 to $1,150.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as high as $888.19 and last traded at $878.89. Approximately 13,041,279 shares traded hands during trading, a decline of 75% from the average daily volume of 51,523,367 shares. The stock had previously closed at $877.57.

NVDA has been the subject of a number of other reports. TD Cowen increased their target price on NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. DA Davidson increased their target price on NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and set a $1,100.00 target price on shares of NVIDIA in a research note on Tuesday, February 20th. Evercore ISI initiated coverage on NVIDIA in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,160.00 target price for the company. Finally, Mizuho increased their target price on NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $941.55.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 in the last quarter. 3.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at $14,606,369,000. International Assets Investment Management LLC lifted its stake in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of NVIDIA during the first quarter worth about $4,826,280,000. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after purchasing an additional 2,287,471 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NVIDIA by 44.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,349,610 shares of the computer hardware maker’s stock worth $3,144,490,000 after purchasing an additional 1,941,637 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

The stock has a 50 day simple moving average of $863.93 and a 200 day simple moving average of $644.83. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 69.55, a PEG ratio of 1.26 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

NVIDIA Company Profile

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.