NVIDIA (NASDAQ:NVDA) Trading 1.4% Higher After Analyst Upgrade

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) traded up 1.4% during trading on Thursday 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 $159.39. 81,164,109 shares were traded during mid-day trading, a decline of 70% from the average session volume of 267,716,129 shares. The stock had previously closed at $157.25.

NVDA has been the topic of a number of other reports. Susquehanna reiterated a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.19.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 168,195 shares of the company'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 value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the sale, the director owned 1,576,709 shares in the company, valued at approximately $243,790,745.58. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management bought a new stake in NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management acquired a new position in NVIDIA during the fourth quarter valued at approximately $54,000. Finally, Kathleen S. Wright Associates Inc. grew its stake in 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 purchasing an additional 254 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The stock has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 1.39 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a 50-day simple moving average of $134.36 and a two-hundred day simple moving average of $127.45.

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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is currently 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.