NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA – Get Free Report) shares traded up 1.3% during 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. 74,829,211 shares were traded during mid-day trading, a decline of 84% from the average session volume of 468,078,688 shares. The stock had previously closed at $127.40.

NVDA has been the topic of several other research reports. Citigroup boosted their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. New Street Research lowered shares of NVIDIA from a “buy” rating to a “neutral” rating in a report on Friday, July 5th. Oppenheimer reissued an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research report on Thursday, May 23rd. Finally, Truist Financial restated a “buy” rating and set a $140.00 target price (up previously from $128.80) on shares of NVIDIA in a research report on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.15.

Read Our Latest Stock Report on NVDA

Insider Activity

In related news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now directly owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,744,590 shares of company stock worth $446,110,085. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

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

NVIDIA Stock Performance

The firm has a 50 day moving average price of $114.98 and a 200-day moving average price of $89.01. The stock has a market capitalization of $3.18 trillion, a PE ratio of 75.58, a PEG ratio of 1.34 and a beta of 1.68. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. Research analysts expect that NVIDIA Co. will post 2.53 EPS for the current fiscal 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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA Company Profile

(Get Free Report)

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.