NVIDIA (NASDAQ:NVDA) Trading 0.4% Higher Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 0.4% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. Approximately 11,384,410 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 50,850,168 shares. The stock had previously closed at $905.54.

NVDA has been the topic of a number of other research reports. Raymond James raised their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 11th. Oppenheimer boosted their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Piper Sandler Companies boosted their price target on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Evercore ISI began coverage on shares of NVIDIA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $944.05.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter worth approximately $26,000. LFA Lugano Financial Advisors SA bought a new position in NVIDIA during the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth about $28,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA in the third quarter worth about $30,000. Finally, HBC Financial Services PLLC acquired a new stake in NVIDIA in the 1st quarter valued at about $30,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company’s 50 day moving average price is $872.36 and its 200-day moving average price is $659.34. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

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.