NVIDIA (NASDAQ:NVDA) Trading Up 1.6% on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA) shares were up 1.6% on Wednesday after Morgan Stanley raised their price target on the stock from $170.00 to $200.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as high as $178.87 and last traded at $178.30. Approximately 41,698,260 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 248,326,234 shares. The stock had previously closed at $175.51.

Several other equities research analysts have also recently commented on the company. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Raymond James Financial upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 target price for the company. Finally, DA Davidson upped their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.03.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,264,800 shares of company stock worth $786,735,503. Insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several large investors have recently made changes to their positions in the business. Wealth Group Ltd. boosted its holdings in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick bought a new position in NVIDIA in the fourth quarter valued at about $972,000. Brighton Jones LLC boosted its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after acquiring an additional 22,929 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its holdings in NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after acquiring an additional 3,653 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

The firm has a fifty day moving average of $153.55 and a 200-day moving average of $131.72. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.37 trillion, a P/E ratio of 57.83, a PEG ratio of 1.55 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company posted $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

NVIDIA Company Profile

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.