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

NVIDIA Co. (NASDAQ:NVDA) shares rose 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. Approximately 11,384,410 shares were traded during trading, a decline of 78% from the average daily volume of 50,850,168 shares. The stock had previously closed at $905.54.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Bank of America boosted their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,100.00 price target on shares of NVIDIA in a report on Tuesday, February 20th. Finally, Morgan Stanley raised their price objective on NVIDIA from $795.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $944.05.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of the business’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 completion of the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 over the last 90 days. Company insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently bought and sold shares of the stock. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC acquired a new stake in NVIDIA during the 4th quarter worth about $28,000. Your Advocates Ltd. LLP acquired a new position in shares of NVIDIA in the 3rd quarter valued at about $30,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the first quarter worth about $30,000. Finally, Able Wealth Management LLC acquired a new position in NVIDIA in the fourth quarter valued at approximately $32,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.6 %

The business’s 50 day moving average price is $872.36 and its 200 day moving average price is $659.34. The firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 76.13, a PEG ratio of 1.27 and a beta of 1.75. 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 results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping 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 company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

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