NVIDIA (NASDAQ:NVDA) Shares Gap Up After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price gapped up prior to trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $135.00 to $150.00. The stock had previously closed at $118.11, but opened at $121.20. Jefferies Financial Group currently has a buy rating on the stock. NVIDIA shares last traded at $119.66, with a volume of 55,711,973 shares trading hands.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group upped their target price on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Piper Sandler upped their target price on NVIDIA from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Citigroup upped their target price on NVIDIA from $103.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. CICC Research started coverage on NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $87.00 target price for the company. Finally, Rosenblatt Securities upped their target price on NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.13.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 110,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $90.57, for a total transaction of $9,962,150.00. Following the transaction, the director now directly owns 10,748,330 shares in the company, valued at $973,422,506.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark A. Stevens sold 110,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $90.57, for a total transaction of $9,962,150.00. Following the transaction, the director now directly owns 10,748,330 shares in the company, valued at $973,422,506.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 227,000 shares of NVIDIA stock in a transaction on Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 1,636,590 shares of company stock worth $292,708,454 over the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft increased its position in NVIDIA by 34.9% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after purchasing an additional 11,445 shares during the period. Wealthspire Advisors LLC raised its stake in shares of NVIDIA by 16.3% during the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after buying an additional 1,724 shares during the last quarter. Shared Vision Wealth Group LLC acquired a new position in NVIDIA in the fourth quarter valued at approximately $269,000. Grand Alliance Asset Management Ltd bought a new position in NVIDIA in the fourth quarter valued at approximately $29,961,000. Finally, OMNI 360 Wealth Inc. acquired a new stake in NVIDIA during the 4th quarter worth $240,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 3.3 %

The firm’s 50-day simple moving average is $102.89 and its 200 day simple moving average is $81.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The company has a market cap of $3.00 trillion, a P/E ratio of 69.07, a PEG ratio of 1.34 and a beta of 1.69.

NVIDIA (NASDAQ:NVDA) 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 firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

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

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.