NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s share price traded up 1.3% during mid-day trading on Friday 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 $160.98 and last traded at $159.28. 143,716,055 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 268,139,289 shares. The stock had previously closed at $157.25.

Several other equities research analysts have also commented on NVDA. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Oppenheimer reiterated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $176.19.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,044,919 shares of company stock worth $584,414,209. Company insiders own 4.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NVDA. 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 position in shares of NVIDIA in the fourth quarter worth $38,000. Kathleen S. Wright Associates Inc. raised its stake in shares of NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter valued at $50,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA during the 1st quarter worth about $51,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Up 1.3%

The firm has a 50 day moving average price of $135.41 and a 200-day moving average price of $127.64. The firm has a market cap of $3.89 trillion, a PE ratio of 51.38, a PEG ratio of 1.41 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.

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

NVIDIA Announces Dividend

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