NVIDIA (NASDAQ:NVDA) Trading 2.2% Higher on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) rose 2.2% during mid-day trading on Monday after KeyCorp raised their price target on the stock from $130.00 to $180.00. KeyCorp currently has an overweight rating on the stock. NVIDIA traded as high as $130.77 and last traded at $128.63. Approximately 84,031,281 shares traded hands during trading, a decline of 82% from the average daily volume of 473,761,313 shares. The stock had previously closed at $125.83.

NVDA has been the subject of several other research reports. Morgan Stanley upped their price target on shares of NVIDIA from $116.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. Wolfe Research raised their price objective on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Susquehanna upped their target price on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Melius Research boosted their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, New Street Research lowered shares of NVIDIA from a “buy” rating to a “neutral” rating in a research note on Friday, July 5th. Six analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

Insider Buying and Selling

In other NVIDIA news, Director Dawn E. Hudson sold 150,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the transaction, the director now directly owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the completion of the sale, the director now directly owns 555,000 shares in the company, valued at approximately $58,785,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $128.60, for a total value of $15,432,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,494,995 shares in the company, valued at $10,223,056,357. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,239,590 shares of company stock worth $379,683,185. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter valued at approximately $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners grew its holdings in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

The company’s 50-day simple moving average is $112.30 and its 200-day simple moving average is $87.57. The stock has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 76.83, a PEG ratio of 1.33 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, analysts expect that NVIDIA Co. will post 2.53 EPS for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, June 11th. NVIDIA’s payout ratio 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.