NVIDIA (NASDAQ:NVDA) Stock Price Up 2.2% Following Analyst Upgrade

Shares of NVIDIA Co. (NASDAQ:NVDAGet Free Report) shot up 2.2% during trading on Wednesday after KeyCorp raised their price target on the stock from $130.00 to $180.00. KeyCorp currently has an overweight rating on the stock. NVIDIA traded as high as $134.49 and last traded at $134.26. 85,151,875 shares were traded during trading, a decline of 82% from the average session volume of 470,542,188 shares. The stock had previously closed at $131.38.

NVDA has been the topic of a number of other reports. Raymond James lifted their price objective on shares of NVIDIA from $110.00 to $120.00 and gave the company a “strong-buy” rating in a report on Thursday, May 23rd. Cantor Fitzgerald boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. TD Cowen boosted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $85.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, May 23rd. Finally, Bank of America boosted their price target on NVIDIA from $132.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.29.

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Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $128.60, for a total transaction of $15,432,000.00. Following the completion of the transaction, the chief executive officer now owns 79,494,995 shares in the company, valued at approximately $10,223,056,357. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $128.60, for a total value of $15,432,000.00. Following the completion of the transaction, the chief executive officer now owns 79,494,995 shares of the company’s stock, valued at approximately $10,223,056,357. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,239,590 shares of company stock worth $379,683,185. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter worth about $25,000. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 2.7 %

The stock has a market cap of $3.32 trillion, a P/E ratio of 78.90, a P/E/G ratio of 1.35 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock has a 50-day moving average price of $113.34 and a 200-day moving average price of $87.91.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.53 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

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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