NVIDIA (NASDAQ:NVDA) Shares Up 0.2% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shot up 0.2% on Friday after The Goldman Sachs Group raised their price target on the stock from $135.00 to $150.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $135.78 and last traded at $135.04. 62,037,574 shares were traded during trading, a decline of 85% from the average session volume of 421,884,250 shares. The stock had previously closed at $134.81.

NVDA has been the subject of a number of other research reports. Jefferies Financial Group raised their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Mizuho lifted their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Westpark Capital lifted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.46.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at approximately $10,171,142,755.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the sale, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,356,270 shares of company stock worth $391,787,127. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Institutional investors have recently bought and sold shares of the company. Clarity Capital Partners LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth about $3,350,000. Able Wealth Management LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth about $32,000. GLOBALT Investments LLC GA acquired a new stake in shares of NVIDIA in the fourth quarter worth about $10,219,000. Eventide Asset Management LLC lifted its position in shares of NVIDIA by 36.3% in the fourth quarter. Eventide Asset Management LLC now owns 1,562 shares of the computer hardware maker’s stock worth $774,000 after buying an additional 416 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new stake in shares of NVIDIA in the fourth quarter worth about $1,111,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.0 %

The business has a 50-day simple moving average of $118.54 and a two-hundred day simple moving average of $110.74. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.