NVIDIA (NASDAQ:NVDA) Sets New 1-Year High After Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) reached a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $175.00 to $250.00. Loop Capital currently has a buy rating on the stock. NVIDIA traded as high as $154.45 and last traded at $154.31, with a volume of 268029699 shares. The stock had previously closed at $147.90.

Several other research analysts also recently weighed in on NVDA. Rosenblatt Securities boosted their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Oppenheimer restated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Finally, Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $175.78.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Burgess sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,393,863 shares of company stock valued at $483,709,832. 4.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $40,000. Kathleen S. Wright Associates Inc. lifted its position in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after buying an additional 254 shares during the last quarter. Finally, Copia Wealth Management acquired a new position in shares of NVIDIA in the 4th quarter valued at about $50,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 4.3%

The firm has a market cap of $3.77 trillion, a P/E ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12. The business's 50-day moving average is $128.75 and its two-hundred day moving average is $126.78. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.

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.

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