NVIDIA (NASDAQ:NVDA) Trading Up 1% Following Analyst Upgrade

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) rose 1% during trading on Thursday after Phillip Securities upgraded the stock from a moderate buy rating to a strong-buy rating. The company traded as high as $173.64 and last traded at $173.09. Approximately 59,600,635 shares were traded during trading, a decline of 77% from the average daily volume of 264,597,909 shares. The stock had previously closed at $171.37.

A number of other analysts have also commented on the stock. Jefferies Financial Group upped their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $181.22.

Insider Activity

In related news, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,814,800 shares of company stock worth $709,172,753. Corporate insiders own 4.17% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Montgomery Investment Management Inc. raised its holdings in NVIDIA by 15.6% during the 2nd quarter. Montgomery Investment Management Inc. now owns 5,920 shares of the computer hardware maker's stock worth $935,000 after purchasing an additional 800 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in NVIDIA by 4.4% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 388,633 shares of the computer hardware maker's stock worth $61,400,000 after purchasing an additional 16,368 shares during the last quarter. Wiser Wealth Management Inc raised its holdings in NVIDIA by 13.2% during the 2nd quarter. Wiser Wealth Management Inc now owns 10,751 shares of the computer hardware maker's stock worth $1,699,000 after purchasing an additional 1,253 shares during the last quarter. Brookmont Capital Management raised its holdings in NVIDIA by 3.1% during the 2nd quarter. Brookmont Capital Management now owns 8,689 shares of the computer hardware maker's stock worth $1,373,000 after purchasing an additional 259 shares during the last quarter. Finally, EWA LLC raised its holdings in NVIDIA by 16.4% during the 2nd quarter. EWA LLC now owns 53,196 shares of the computer hardware maker's stock worth $8,404,000 after purchasing an additional 7,504 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

The stock has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a PEG ratio of 1.51 and a beta of 2.13. 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 company has a fifty day simple moving average of $145.88 and a two-hundred day simple moving average of $129.63.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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