NVIDIA (NASDAQ:NVDA) Sets New 52-Week High on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA) hit a new 52-week high during trading on Thursday after Loop Capital raised their price target on the stock from $175.00 to $250.00. Loop Capital currently has a buy rating on the stock. NVIDIA traded as high as $154.45 and last traded at $154.31, with a volume of 268029699 shares. The stock had previously closed at $147.90.

NVDA has been the subject of several other reports. Rosenblatt Securities upped their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Truist Financial boosted their price target on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.78.

Insider Transactions at NVIDIA

In related news, Director A Brooke Seawell sold 55,282 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $144.71, for a total value of $7,999,858.22. Following the sale, the director now owns 1,944,718 shares in the company, valued at approximately $281,420,141.78. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,468,863 shares of company stock worth $495,150,332 over the last three months. 4.17% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. FMR LLC increased its position in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp raised its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 0.5%

The company’s 50-day simple moving average is $129.83 and its two-hundred day simple moving average is $126.89. The firm has a market capitalization of $3.78 trillion, a P/E ratio of 50.01, a P/E/G ratio of 1.36 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 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.