NVIDIA (NASDAQ:NVDA) Hits New 1-Year High Following Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s stock price hit a new 52-week high on Thursday after Mizuho raised their price target on the stock from $170.00 to $185.00. Mizuho currently has an outperform rating on the stock. NVIDIA traded as high as $158.99 and last traded at $158.45, with a volume of 13296909 shares changing hands. The stock had previously closed at $157.25.

NVDA has been the subject of several other research reports. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Loop Capital boosted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $176.19.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the transaction, the chief executive officer owned 75,323,225 shares of the company's stock, valued at $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last ninety days. 4.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Variant Private Wealth LLC increased its holdings in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Hickory Point Bank & Trust purchased a new position in NVIDIA during the 4th quarter valued at approximately $2,272,000. BTC Capital Management Inc. increased its stake in NVIDIA by 2.3% in the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP increased its stake in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Finally, Waddell & Associates LLC raised its holdings in shares of NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 1.3%

The business has a 50-day moving average price of $134.36 and a 200 day moving average price of $127.45. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

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.