NVIDIA (NASDAQ:NVDA) Reaches New 1-Year High Following Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s share price hit a new 52-week high during 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 $158.99 and last traded at $158.45, with a volume of 13296909 shares changing hands. The stock had previously closed at $157.25.

Other equities analysts also recently issued research reports about the company. Raymond James Financial boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, June 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.19.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the transaction, the chief executive officer directly owned 75,323,225 shares in the company, valued at approximately $11,865,667,634.25. This represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were 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 of the company’s stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,044,919 shares of company stock worth $584,414,209 over the last three months. Insiders own 4.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Hawaiian Bank lifted its stake in shares of NVIDIA by 6.2% in the 2nd quarter. First Hawaiian Bank now owns 6,321 shares of the computer hardware maker’s stock valued at $999,000 after acquiring an additional 370 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in shares of NVIDIA by 84.8% in the 2nd quarter. Trinity Financial Advisors LLC now owns 47,014 shares of the computer hardware maker’s stock valued at $7,428,000 after buying an additional 21,570 shares during the period. Arvest Investments Inc. grew its stake in shares of NVIDIA by 15.5% in the 2nd quarter. Arvest Investments Inc. now owns 20,720 shares of the computer hardware maker’s stock valued at $3,274,000 after buying an additional 2,778 shares during the period. Higgins & Schmidt Wealth Strategies LLC grew its stake in shares of NVIDIA by 8.0% in the 2nd quarter. Higgins & Schmidt Wealth Strategies LLC now owns 3,542 shares of the computer hardware maker’s stock valued at $560,000 after buying an additional 261 shares during the period. Finally, TrueWealth Advisors LLC boosted its stake in NVIDIA by 11.0% during the 2nd quarter. TrueWealth Advisors LLC now owns 8,831 shares of the computer hardware maker’s stock valued at $1,395,000 after purchasing an additional 873 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The firm has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business has a 50 day simple moving average of $136.38 and a 200-day simple moving average of $127.84.

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

NVIDIA Dividend Announcement

The company also recently announced 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 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.