NVIDIA (NASDAQ:NVDA) Stock Price Up 1.3% on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA) shares rose 1.3% on Friday 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 $159.28. Approximately 143,716,055 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 268,139,289 shares. The stock had previously closed at $157.25.

NVDA has been the topic of several other research reports. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Bank of America boosted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.19.

Insider Activity

In other news, Director A Brooke Seawell sold 51,740 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at approximately $243,790,745.58. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the sale, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in the stock. GSB Wealth Management LLC lifted its stake in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its stake in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Financial Perspectives Inc lifted its stake in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. Hickory Point Bank & Trust purchased a new stake in NVIDIA in the fourth quarter worth about $2,272,000. Finally, BTC Capital Management Inc. lifted its stake in NVIDIA by 2.3% in 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 period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 1.3%

The stock’s 50 day moving average is $136.38 and its two-hundred day moving average is $127.83. The company has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. 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 released 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 return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. 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.