NVIDIA (NASDAQ:NVDA) Shares Up 4.5% After Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s stock price traded up 4.5% during trading on Tuesday after Phillip Securities upgraded the stock from a moderate buy rating to a strong-buy rating. The company traded as high as $172.40 and last traded at $171.38. 115,369,956 shares were traded during mid-day trading, a decline of 56% from the average session volume of 264,967,123 shares. The stock had previously closed at $164.07.

Several other equities analysts have also commented on the stock. Jefferies Financial Group increased their target price on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday. Raymond James Financial increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $181.22.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were 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 of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,814,800 shares of company stock valued at $709,172,753 over the last ninety days. Company insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its position 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 purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Kingstone Capital Partners Texas LLC boosted its position in shares of NVIDIA by 267,959.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock worth $64,976,521,000 after purchasing an additional 382,231,120 shares during the period. Finally, Norges Bank bought a new position in shares of NVIDIA in the fourth quarter worth approximately $43,515,504,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.4%

The firm has a market capitalization of $4.21 trillion, a P/E ratio of 55.52, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13. The stock's 50-day simple moving average is $145.88 and its two-hundred day simple moving average is $129.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA's revenue was up 69.2% compared to the same quarter last year. Equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business 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 dividend yield of 0.02%. NVIDIA's dividend payout ratio is 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.