NVIDIA (NASDAQ:NVDA) Trading Up 3.5% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 3.5% on Wednesday 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 $136.33 and last traded at $135.58. Approximately 294,335,054 shares were traded during trading, a decline of 32% from the average daily volume of 429,748,672 shares. The stock had previously closed at $130.98.

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC raised their price objective on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Wedbush boosted their target price on NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target on NVIDIA from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, UBS Group lifted their price objective on shares of NVIDIA from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Five investment 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 company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.84.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 10,521,330 shares in the company, valued at approximately $925,845,476.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John Dabiri sold 1,280 shares of NVIDIA stock in a transaction on 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 sale, the director now owns 20,550 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 10,521,330 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold a total of 1,417,870 shares of company stock worth $263,658,838 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the 1st quarter worth about $27,000. HBC Financial Services PLLC bought a new position in NVIDIA during the first quarter valued at about $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the first quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 3.5 %

The stock’s 50-day moving average price is $100.68 and its two-hundred day moving average price is $79.64. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 79.29, a P/E/G ratio of 1.38 and a beta of 1.70.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. The business’s revenue 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. As a group, research analysts expect that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.30%. NVIDIA’s dividend payout ratio is 2.34%.

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.