NVIDIA (NASDAQ:NVDA) Stock Price Up 0.2% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 0.2% on Tuesday after UBS Group raised their price target on the stock from $1,100.00 to $1,150.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as high as $888.19 and last traded at $878.89. Approximately 13,041,279 shares traded hands during trading, a decline of 75% from the average daily volume of 51,523,367 shares. The stock had previously closed at $877.57.

Other analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Wednesday, March 20th. Jefferies Financial Group raised their price target on NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Bank of America boosted their price objective on NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. KeyCorp increased their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Needham & Company LLC boosted their target price on shares of NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,278 shares of company stock worth $52,689,898. Company insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA in the 4th quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $28,000. Your Advocates Ltd. LLP purchased a new position in shares of NVIDIA during the 3rd quarter valued at approximately $30,000. Able Wealth Management LLC acquired a new stake in NVIDIA in the 4th quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC raised its position in NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after acquiring an additional 30 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.1 %

The company’s fifty day simple moving average is $857.43 and its 200-day simple moving average is $640.64. The firm has a market capitalization of $2.17 trillion, a PE ratio of 73.41, a P/E/G ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

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.