NVIDIA (NASDAQ:NVDA) Shares Up 3.5% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report)’s stock price was up 3.5% during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $130.00 to $180.00. KeyCorp currently has an overweight rating on the stock. NVIDIA traded as high as $133.82 and last traded at $132.72. Approximately 117,737,523 shares changed hands during trading, a decline of 75% from the average daily volume of 472,204,563 shares. The stock had previously closed at $128.20.

Several other research firms also recently weighed in on NVDA. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $85.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, May 23rd. Melius Research boosted their price target on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Needham & Company LLC boosted their price target on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley boosted their price target on NVIDIA from $116.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on NVIDIA from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

View Our Latest Research Report on NVDA

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawn E. Hudson sold 150,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the director now directly owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,239,590 shares of company stock valued at $379,683,185. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Investment Advisors LLC ADV boosted its position in shares of NVIDIA by 529.5% during the second quarter. Sterling Investment Advisors LLC ADV now owns 3,116 shares of the computer hardware maker’s stock worth $385,000 after buying an additional 2,621 shares during the period. Boston Standard Wealth Management LLC boosted its position in shares of NVIDIA by 994.8% during the second quarter. Boston Standard Wealth Management LLC now owns 3,164 shares of the computer hardware maker’s stock worth $391,000 after buying an additional 2,875 shares during the period. Compass Financial Group INC SD boosted its position in shares of NVIDIA by 935.9% during the second quarter. Compass Financial Group INC SD now owns 8,215 shares of the computer hardware maker’s stock worth $1,015,000 after buying an additional 7,422 shares during the period. O Keefe Stevens Advisory Inc. boosted its position in shares of NVIDIA by 474.5% during the second quarter. O Keefe Stevens Advisory Inc. now owns 510,052 shares of the computer hardware maker’s stock worth $63,012,000 after buying an additional 421,272 shares during the period. Finally, Csenge Advisory Group boosted its position in shares of NVIDIA by 993.8% during the second quarter. Csenge Advisory Group now owns 271,902 shares of the computer hardware maker’s stock worth $33,591,000 after buying an additional 247,043 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

The stock has a market capitalization of $3.32 trillion, a PE ratio of 78.90, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. The stock has a fifty day moving average of $113.34 and a 200-day moving average of $87.91. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA Company Profile

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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.

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