NVIDIA (NASDAQ:NVDA) Stock Price Up 4.2% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shares traded up 4.2% during mid-day trading on Monday after Loop Capital raised their price target on the stock from $120.00 to $175.00. Loop Capital currently has a buy rating on the stock. NVIDIA traded as high as $123.28 and last traded at $122.86. 75,039,773 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 459,415,406 shares. The stock had previously closed at $117.93.

A number of other research firms have also commented on NVDA. Barclays lowered their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $85.00 to $100.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Wells Fargo & Company upped their price target on shares of NVIDIA from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Oppenheimer reissued an “outperform” rating and set a $110.00 price objective on shares of NVIDIA in a research note on Thursday, May 23rd. Finally, KeyCorp lifted their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $131.59.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at $9,569,997,238.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 3,600,723 shares of company stock worth $553,716,941 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the company. Hamilton Wealth LLC lifted its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC raised its position in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC lifted its holdings in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC grew its position in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its position in shares of NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after acquiring an additional 13 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

The firm has a market cap of $3.02 trillion, a price-to-earnings ratio of 71.69, a P/E/G ratio of 1.24 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $119.47 and its two-hundred day simple moving average is $92.93.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.09 earnings per share. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were paid a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is 2.34%.

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.