NVIDIA (NASDAQ:NVDA) Trading 3.5% Higher Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report)’s share price was up 3.5% during mid-day trading on Tuesday 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 $133.82 and last traded at $132.72. Approximately 117,737,523 shares were traded during trading, a decline of 75% from the average daily volume of 472,204,563 shares. The stock had previously closed at $128.20.

A number of other research firms have also weighed in on NVDA. The Goldman Sachs Group lifted their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Susquehanna boosted their price target on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Morgan Stanley raised their price objective on shares of NVIDIA from $116.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Melius Research increased their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Six 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 company. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

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Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the completion of the sale, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at $9,909,465,178.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the sale, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dawn E. Hudson sold 150,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the director now owns 555,000 shares of the company’s stock, valued at $58,785,600. The disclosure for this sale can be found here. Insiders have sold a total of 1,999,590 shares of company stock worth $348,994,385 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at approximately $14,606,369,000. International Assets Investment Management LLC raised its position in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of NVIDIA by 15.2% during the fourth quarter. Capital World Investors now owns 11,516,395 shares of the computer hardware maker’s stock worth $5,703,149,000 after buying an additional 1,523,718 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The firm has a market capitalization of $3.25 trillion, a price-to-earnings ratio of 77.61, a PEG ratio of 1.33 and a beta of 1.68. The stock has a 50 day moving average price of $111.40 and a two-hundred day moving average price of $86.99.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. The company 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%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. As a group, 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. Shareholders of record on Tuesday, June 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.30%. The ex-dividend date was Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 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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