NVIDIA (NASDAQ:NVDA) Stock Price Up 2.7% After Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA) shares were up 2.7% during trading on Wednesday after Loop Capital raised their price target on the stock from $175.00 to $250.00. Loop Capital currently has a buy rating on the stock. NVIDIA traded as high as $153.00 and last traded at $151.87. Approximately 106,052,763 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 269,999,748 shares. The stock had previously closed at $147.90.

Several other research firms also recently issued reports on NVDA. UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Susquehanna reissued a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Mizuho raised their target price on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $175.78.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 125,836 shares of NVIDIA stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $137.79, for a total value of $17,338,942.44. Following the transaction, the director now owns 10,149,697 shares in the company, valued at approximately $1,398,526,749.63. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares of the company’s stock, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,468,863 shares of company stock valued at $495,150,332 over the last quarter. 4.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its holdings in NVIDIA by 1.7% in 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 acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares during the period. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 0.5%

The company has a market capitalization of $3.78 trillion, a P/E ratio of 50.01, a PEG ratio of 1.36 and a beta of 2.12. 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 50 day moving average of $129.83 and a 200-day moving average of $126.89.

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 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 business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter last year, the business posted $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s 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.