NVIDIA (NASDAQ:NVDA) Trading Up 0.4% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shot up 0.4% on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. 11,384,410 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 50,850,168 shares. The stock had previously closed at $905.54.

A number of other equities analysts have also recently commented on NVDA. Craig Hallum boosted their price target on NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of NVIDIA in a report on Tuesday, March 19th. HSBC upped their price objective on shares of NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Raymond James raised their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. Finally, Oppenheimer upped their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.05.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,278 shares of company stock worth $52,689,898. Insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the company. Moody Lynn & Lieberson LLC boosted its position in NVIDIA by 7.2% during the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after purchasing an additional 5,998 shares during the period. TrueMark Investments LLC bought a new position in NVIDIA in the 4th quarter worth approximately $2,639,000. McLean Asset Management Corp grew its stake in NVIDIA by 11.7% in the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after buying an additional 186 shares in the last quarter. Cornercap Investment Counsel Inc. raised its holdings in NVIDIA by 5.7% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock valued at $1,931,000 after acquiring an additional 209 shares during the period. Finally, Shilanski & Associates Inc. lifted its position in shares of NVIDIA by 15.9% during the fourth quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock worth $1,477,000 after acquiring an additional 410 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 74.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. The stock has a fifty day moving average price of $874.91 and a 200 day moving average price of $661.05.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

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.