NVIDIA (NASDAQ:NVDA) Shares Up 0.4% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) was up 0.4% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. Approximately 11,384,410 shares changed hands during trading, a decline of 78% from the average daily volume of 50,850,168 shares. The stock had previously closed at $905.54.

NVDA has been the subject of a number of other research reports. Piper Sandler Companies upped their price objective on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. KeyCorp boosted their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley raised their price target on NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Rosenblatt Securities reissued a “buy” rating and set a $1,100.00 price objective on shares of NVIDIA in a research note on Tuesday, February 20th. Finally, Evercore ISI started coverage on shares of NVIDIA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $944.05.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in NVIDIA by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock valued at $101,276,242,000 after purchasing an additional 827,377 shares during the period. Norges Bank purchased a new stake in NVIDIA in the 4th quarter worth approximately $14,606,369,000. Northern Trust Corp raised its stake in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 valued at $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NVIDIA by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.2 %

The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $872.36 and its 200-day moving average price is $659.34. The stock has a market capitalization of $2.26 trillion, a PE ratio of 75.72, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue was up 265.3% on a year-over-year basis. On average, sell-side analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 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.