NVIDIA (NASDAQ:NVDA) Shares Up 2.2% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 2.2% during trading on Tuesday after Truist Financial raised their price target on the stock from $148.00 to $167.00. Truist Financial currently has a buy rating on the stock. NVIDIA traded as high as $143.55 and last traded at $143.21. Approximately 61,870,512 shares were traded during trading, a decline of 84% from the average daily volume of 397,287,563 shares. The stock had previously closed at $140.15.

Other equities analysts have also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Monday. Mizuho increased their price target on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Evercore ISI raised their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $154.63.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter worth $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

The company has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.49 and a beta of 1.66. The business has a 50 day moving average price of $132.42 and a 200-day moving average price of $121.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the firm posted $0.25 EPS. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.