NVIDIA (NASDAQ:NVDA) Sets New 52-Week High on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s stock price hit a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $175.00 to $250.00. Loop Capital currently has a buy rating on the stock. NVIDIA traded as high as $154.45 and last traded at $154.31, with a volume of 268029699 shares changing hands. The stock had previously closed at $147.90.

Several other analysts also recently commented on the stock. TD Cowen raised their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Mizuho increased their price target on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $144.26, for a total value of $7,213,000.00. Following the completion of the sale, the chief executive officer now owns 75,723,225 shares in the company, valued at approximately $10,923,832,438.50. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the completion of the sale, the chief financial officer now directly owns 173,060 shares of the company’s stock, valued at approximately $24,956,982.60. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,468,863 shares of company stock valued at $495,150,332 over the last ninety days. 4.17% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in NVIDIA in the fourth quarter worth approximately $43,515,504,000. Nuveen LLC purchased a new position in NVIDIA in the first quarter valued at about $15,089,414,000. Goldman Sachs Group Inc. raised its stake in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock worth $20,374,921,000 after acquiring an additional 103,889,872 shares in the last quarter. GAMMA Investing LLC lifted its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

The business has a 50 day simple moving average of $129.83 and a 200 day simple moving average of $126.89. The company has a market capitalization of $3.78 trillion, a PE ratio of 50.01, a PEG ratio of 1.36 and a beta of 2.12. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.