NVIDIA (NASDAQ:NVDA) Trading 0.2% Higher on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 0.2% on Tuesday after UBS Group raised their price target on the stock from $1,100.00 to $1,150.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as high as $888.19 and last traded at $878.89. Approximately 13,041,279 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 51,523,367 shares. The stock had previously closed at $877.57.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company raised their target price on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Craig Hallum increased their target price on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Oppenheimer upped their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Citigroup upped their price target on NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Four investment 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $941.55.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 11,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $905.65, for a total value of $9,962,150.00. Following the transaction, the director now owns 1,074,833 shares of the company’s stock, valued at $973,422,506.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock valued at $101,276,242,000 after buying an additional 827,377 shares during the period. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $14,606,369,000. Northern Trust Corp raised its stake in shares of NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares in the last quarter. International Assets Investment Management LLC lifted 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 worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 2.9% in 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 buying an additional 388,851 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.5 %

The business’s 50 day moving average price is $860.82 and its 200-day moving average price is $643.52. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 72.36, a PEG ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

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.