NVIDIA (NASDAQ:NVDA) Stock Price Up 1.8% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded up 1.8% on Tuesday after Tigress Financial raised their price target on the stock from $98.50 to $170.00. Tigress Financial currently has a buy rating on the stock. NVIDIA traded as high as $133.72 and last traded at $133.34. 96,472,605 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 486,205,188 shares. The stock had previously closed at $130.98.

Other analysts have also issued reports about the stock. Robert W. Baird increased their price target on shares of NVIDIA from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target for the company. in a research report on Friday, May 24th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research report on Thursday, May 23rd. Finally, StockNews.com lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.84.

Insider Buying and Selling

In related news, Director John Dabiri sold 1,280 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $94.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now directly owns 20,550 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 1,280 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $94.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 20,550 shares of the company’s stock, valued at $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,417,870 shares of company stock valued at $263,658,838. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Finally, HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the first quarter worth about $30,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 79.29, a P/E/G ratio of 1.39 and a beta of 1.69. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $99.71 and a 200 day moving average price of $79.24.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping 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%. The business’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, analysts forecast that NVIDIA Co. will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a dividend of $0.10 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.30%. NVIDIA’s payout ratio is presently 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.