NVIDIA (NASDAQ:NVDA) Trading Up 0.4% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 0.4% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. Approximately 11,384,410 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 50,850,168 shares. The stock had previously closed at $905.54.

A number of other research analysts also recently commented on the stock. Needham & Company LLC raised their target price on shares of NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wells Fargo & Company upped their price objective on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Wolfe Research boosted their target price on shares of NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Sanford C. Bernstein increased their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, Evercore ISI initiated coverage on shares of NVIDIA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $944.05.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,278 shares of company stock worth $52,689,898. Company insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $26,000. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA in the fourth quarter valued at $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Your Advocates Ltd. LLP purchased a new position in shares of NVIDIA during the 3rd quarter worth $30,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the 1st quarter worth about $30,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.22 trillion, a PE ratio of 74.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. The firm’s fifty day moving average is $874.91 and its 200-day moving average is $661.05.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s revenue was up 265.3% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is presently 1.34%.

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.