NVIDIA (NASDAQ:NVDA) Trading 2.1% Higher After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price shot up 2.1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $204.00 to $205.00. Truist Financial currently has a buy rating on the stock. NVIDIA traded as high as $123.70 and last traded at $122.72. 151,806,300 shares changed hands during trading, a decline of 43% from the average session volume of 267,582,969 shares. The stock had previously closed at $120.15.

Other equities analysts have also issued research reports about the stock. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $169.62.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVDA. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at about $43,515,504,000. International Assets Investment Management LLC increased its stake in NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after purchasing an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth approximately $4,589,905,000. Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

The stock has a market cap of $2.99 trillion, a P/E ratio of 48.30, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $134.39 and its two-hundred day moving average price is $131.81.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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.