NVIDIA (NASDAQ:NVDA) Trading 3.3% Higher After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) traded up 3.3% during mid-day trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $140.00 to $175.00. Cantor Fitzgerald currently has an overweight rating on the stock. NVIDIA traded as high as $122.62 and last traded at $121.95. 132,633,484 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 486,560,125 shares. The stock had previously closed at $118.11.

A number of other brokerages have also issued reports on NVDA. The Goldman Sachs Group boosted their price target on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. KeyCorp boosted their price objective on shares of NVIDIA from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. UBS Group boosted their price objective on shares of NVIDIA from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Tigress Financial boosted their price objective on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Raymond James boosted their price objective on shares of NVIDIA from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.53.

Insider Buying and Selling

In related news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. Insiders sold a total of 1,746,590 shares of company stock worth $309,332,104 in the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently bought and sold shares of the business. Hamilton Wealth LLC raised its holdings in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the last quarter. Brooklyn FI LLC increased its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC increased its holdings in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC increased its holdings in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co increased its holdings in shares of NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

The stock’s fifty day moving average price is $103.66 and its 200-day moving average price is $82.10. The firm has a market cap of $3.11 trillion, a price-to-earnings ratio of 73.92, a P/E/G ratio of 1.33 and a beta of 1.70. 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, topping analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.32%. The ex-dividend date is Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) 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.