NVIDIA (NASDAQ:NVDA) Sets New 12-Month High Following Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $175.00 to $200.00. Oppenheimer currently has an outperform rating on the stock. NVIDIA traded as high as $172.40 and last traded at $170.70, with a volume of 229902790 shares. The stock had previously closed at $164.07.

NVDA has been the subject of several other reports. Citigroup upped their target price on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.92.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,767,150 shares of company stock valued at $701,030,045. 4.17% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently modified their holdings of the company. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $38,000. Kathleen S. Wright Associates Inc. grew its holdings 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 acquiring an additional 254 shares during the period. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter valued at $50,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA during the first quarter worth about $51,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 4.0%

The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm's fifty day simple moving average is $143.67 and its 200-day simple moving average is $129.10. The company has a market cap of $4.17 trillion, a PE ratio of 55.06, a P/E/G ratio of 1.45 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 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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is currently 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.

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