NVIDIA (NASDAQ:NVDA) Trading Up 1.6% on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s stock price rose 1.6% on Wednesday after Morgan Stanley raised their price target on the stock from $170.00 to $200.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as high as $178.87 and last traded at $178.30. Approximately 41,698,260 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 248,326,234 shares. The stock had previously closed at $175.51.

Other equities research analysts have also issued research reports about the company. Bank of America raised their price target on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Raymond James Financial raised 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. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Finally, Citigroup raised their price target on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $182.03.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. The trade was a 4.02% 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, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock valued at $786,735,503 in the last ninety days. 4.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC increased its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in shares of NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after buying an additional 382,231,120 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 2.1%

The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.37 trillion, a price-to-earnings ratio of 57.83, a P/E/G ratio of 1.55 and a beta of 2.13. The stock has a fifty day moving average price of $153.55 and a two-hundred day moving average price of $131.72.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. 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.