NVIDIA (NASDAQ:NVDA) Trading 1.4% Higher After Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s stock price traded up 1.4% during mid-day trading on Thursday after Mizuho raised their price target on the stock from $170.00 to $185.00. Mizuho currently has an outperform rating on the stock. NVIDIA traded as high as $160.98 and last traded at $159.39. 81,164,109 shares changed hands during trading, a decline of 70% from the average session volume of 267,716,129 shares. The stock had previously closed at $157.25.

NVDA has been the subject of several other research reports. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $176.19.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock worth $584,414,209 over the last 90 days. 4.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently bought and sold shares of the company. Variant Private Wealth LLC lifted its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Hickory Point Bank & Trust acquired a new stake in NVIDIA during the fourth quarter worth approximately $2,272,000. BTC Capital Management Inc. lifted its position in NVIDIA by 2.3% during the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP lifted its position in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Finally, Waddell & Associates LLC lifted its position in NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 297 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

The company’s 50-day simple moving average is $135.41 and its 200-day simple moving average is $127.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

About NVIDIA

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.