NVIDIA (NASDAQ:NVDA) Stock Price Up 0.2% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price rose 0.2% during trading 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.

Several other research analysts also recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Susquehanna reiterated a “positive” rating and set a $1,050.00 price objective on shares of NVIDIA in a research report on Thursday, April 4th. Wedbush reiterated an “outperform” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Finally, Needham & Company LLC lifted their price target on NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $941.55.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Corporate insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Moody Lynn & Lieberson LLC grew its holdings 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 acquiring an additional 5,998 shares during the period. TrueMark Investments LLC acquired a new position in NVIDIA during the fourth quarter worth about $2,639,000. McLean Asset Management Corp grew its holdings in NVIDIA by 11.7% during the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock worth $871,000 after acquiring an additional 186 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in NVIDIA by 5.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock worth $1,931,000 after acquiring an additional 209 shares during the period. Finally, Shilanski & Associates Inc. grew its holdings in 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 during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.1 %

The business has a fifty day moving average of $857.43 and a 200-day moving average of $640.64. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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. 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 analyst estimates of $20.40 billion. During the same quarter last year, the company posted $0.65 EPS. NVIDIA’s revenue for the quarter was up 265.3% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is presently 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.