NVIDIA (NASDAQ:NVDA) Trading 0.4% Higher Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares rose 0.4% on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. Approximately 11,384,410 shares changed hands during trading, a decline of 78% from the average daily volume of 50,850,168 shares. The stock had previously closed at $905.54.

Several other equities research analysts also recently issued reports on NVDA. Wolfe Research raised their price target on NVIDIA from $630.00 to $900.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $900.00 price target on shares of NVIDIA in a report on Monday, March 4th. Morgan Stanley boosted their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 10th. Truist Financial increased their price target on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a "buy" rating in a report on Monday, March 18th. Finally, Piper Sandler boosted their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $944.05.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the firm's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 10,000 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company's stock, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Moody Lynn & Lieberson LLC grew its stake in NVIDIA by 7.2% in the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker's stock valued at $38,737,000 after acquiring an additional 5,998 shares during the period. TrueMark Investments LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $2,639,000. McLean Asset Management Corp increased its stake in NVIDIA by 11.7% during the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker's stock worth $871,000 after purchasing an additional 186 shares in the last quarter. Cornercap Investment Counsel Inc. raised its position in NVIDIA by 5.7% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker's stock valued at $1,931,000 after buying an additional 209 shares during the last quarter. Finally, Shilanski & Associates Inc. boosted its position in NVIDIA by 15.9% during the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker's stock worth $1,477,000 after acquiring an additional 410 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Down 0.2 %

The stock's fifty day moving average price is $872.36 and its 200-day moving average price is $659.34. The company has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 75.72, a P/E/G ratio of 1.27 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analysts' expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company's revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is presently 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.