NVIDIA (NASDAQ:NVDA) Shares Up 1.3% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 1.3% during mid-day trading on Friday after Benchmark raised their price target on the stock from $135.00 to $170.00. Benchmark currently has a buy rating on the stock. NVIDIA traded as high as $130.33 and last traded at $129.01. Approximately 74,829,211 shares were traded during trading, a decline of 84% from the average daily volume of 468,078,688 shares. The stock had previously closed at $127.40.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $85.00 to $100.00 and gave the company a “hold” rating in a report on Thursday, May 23rd. Truist Financial reaffirmed a “buy” rating and set a $140.00 price target (up previously from $128.80) on shares of NVIDIA in a report on Thursday, June 27th. The Goldman Sachs Group raised their price target on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Evercore ISI raised their price target on NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Finally, Melius Research increased their price objective on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Six equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $129.15.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,744,590 shares of company stock valued at $446,110,085 over the last ninety days. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth $27,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in NVIDIA during the fourth quarter worth $28,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

The firm has a market cap of $3.18 trillion, a P/E ratio of 75.58, a P/E/G ratio of 1.42 and a beta of 1.68. The company has a fifty day moving average of $114.98 and a 200-day moving average of $88.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

NVIDIA (NASDAQ:NVDA) last announced 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 return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same period last year, the firm posted $0.09 EPS. The business’s revenue was up 262.1% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. NVIDIA’s dividend payout ratio (DPR) is currently 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.