NVIDIA (NASDAQ:NVDA) Shares Up 0.9% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report) traded up 0.9% on Monday after StockNews.com upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $122.02 and last traded at $121.98. 129,292,746 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 497,374,375 shares. The stock had previously closed at $120.89.

NVDA has been the topic of several other research reports. HSBC increased their price target on shares of NVIDIA from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. KeyCorp increased their price objective on NVIDIA from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Piper Sandler boosted their target price on NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group upped their price target on NVIDIA from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Mizuho lifted their price objective on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.21.

Read Our Latest Stock Analysis on NVIDIA

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 227,000 shares of NVIDIA stock in a transaction on Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 10,521,330 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NVIDIA news, Director John Dabiri sold 1,280 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $94.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 20,550 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,147,870 shares of company stock worth $230,147,038. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the 1st quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners raised its holdings in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. 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 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The company has a market capitalization of $299.60 billion, a PE ratio of 7.12, a P/E/G ratio of 1.30 and a beta of 1.69. The stock has a 50-day simple moving average of $94.72 and a 200 day simple moving average of $75.80.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 262.1% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Co. will post 25.32 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.33%. NVIDIA’s dividend 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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