NVIDIA (NASDAQ:NVDA) Trading Up 2.7% Following Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) was up 2.7% on Wednesday 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 $153.00 and last traded at $151.87. 106,052,763 shares were traded during trading, a decline of 61% from the average daily volume of 269,999,748 shares. The stock had previously closed at $147.90.

Other research analysts have also issued reports about the stock. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $175.78.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 50,980 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $156.92, for a total value of $7,999,781.60. Following the transaction, the director now directly owns 1,679,361 shares in the company, valued at approximately $263,525,328.12. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. Company insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp boosted its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The stock has a market cap of $3.85 trillion, a PE ratio of 50.89, a PEG ratio of 1.37 and a beta of 2.12. The business's 50-day simple moving average is $130.96 and its 200-day simple moving average is $127.05. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 quarter in the prior year, the firm earned $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is 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.