NVIDIA (NASDAQ:NVDA) Trading 2.7% Higher After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report)’s stock price traded up 2.7% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $1,180.00 to $1,275.00. Mizuho currently has a buy rating on the stock. NVIDIA traded as high as $1,199.50 and last traded at $1,195.52. 17,587,795 shares changed hands during trading, a decline of 65% from the average session volume of 49,672,887 shares. The stock had previously closed at $1,164.37.

A number of other equities analysts have also recently weighed in on NVDA. Oppenheimer reissued an “outperform” rating and issued a $1,100.00 price target on shares of NVIDIA in a research note on Thursday, May 23rd. Wolfe Research lifted their price target on NVIDIA from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Argus lifted their price target on NVIDIA from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $1,400.00 price target on shares of NVIDIA in a research note on Monday, May 20th. Finally, Stifel Nicolaus lifted their price target on NVIDIA from $910.00 to $1,085.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,130.20.

View Our Latest Report on NVIDIA

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 8,900 shares of NVIDIA stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1,139.20, for a total value of $10,138,880.00. Following the transaction, the director now directly owns 1,016,294 shares of the company’s stock, valued at approximately $1,157,762,124.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 8,900 shares of NVIDIA stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1,139.20, for a total value of $10,138,880.00. Following the transaction, the director now directly owns 1,016,294 shares of the company’s stock, valued at approximately $1,157,762,124.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,117 shares of company stock worth $90,701,708. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Criterion Capital Advisors LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Finally, HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $30,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 5.2 %

The business has a 50-day moving average price of $928.68 and a 200-day moving average price of $741.12. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.01 trillion, a P/E ratio of 71.60, a PEG ratio of 1.24 and a beta of 1.70.

NVIDIA shares are scheduled to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating the consensus estimate of $5.14 by $0.98. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. Analysts anticipate that NVIDIA Co. will post 25.32 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 0.94%.

About NVIDIA

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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.

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