NVIDIA (NASDAQ:NVDA) Trading 4.5% Higher After Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s share price shot up 4.5% on Tuesday after Jefferies Financial Group raised their price target on the stock from $185.00 to $200.00. The company traded as high as $172.40 and last traded at $171.38. 115,369,956 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 264,967,123 shares. The stock had previously closed at $164.07.

Several other equities research analysts have also weighed in on the company. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Oppenheimer increased their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley restated an “overweight” rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.22.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company’s stock, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $164.36, for a total transaction of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares in the company, valued at $12,269,182,261. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,767,150 shares of company stock valued at $701,030,045 over the last three months. Insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth approximately $38,000. Kathleen S. Wright Associates Inc. increased its stake in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after purchasing an additional 254 shares in the last quarter. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter worth $50,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA during the first quarter worth $51,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

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 company has a market capitalization of $4.18 trillion, a PE ratio of 55.28, a P/E/G ratio of 1.51 and a beta of 2.13. The stock has a 50-day simple moving average of $144.76 and a 200 day simple moving average of $129.39.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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). The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend 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.