NVIDIA (NASDAQ:NVDA) Shares Up 1.8% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price shot up 1.8% on Tuesday after Wells Fargo & Company raised their price target on the stock from $125.00 to $155.00. Wells Fargo & Company currently has an overweight rating on the stock. NVIDIA traded as high as $133.72 and last traded at $133.34. 96,472,605 shares traded hands during trading, a decline of 80% from the average session volume of 486,205,188 shares. The stock had previously closed at $130.98.

Several other brokerages have also recently commented on NVDA. Argus boosted their price target on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of NVIDIA in a research report on Monday, June 10th. TD Cowen upped their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Needham & Company LLC upped their target price on NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Wedbush upped their target price on NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.09.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total value of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $91.16, for a total transaction of $410,229.00. Following the sale, the insider now owns 498,150 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total value of $15,448,800.00. Following the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at approximately $10,474,135,774.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,417,870 shares of company stock worth $263,658,838 over the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the business. Hamilton Wealth LLC raised its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the last quarter. Brooklyn FI LLC raised its position in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its position in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its position in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its position in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock has a 50-day moving average of $98.70 and a 200-day moving average of $78.62. The firm has a market cap of $3.28 trillion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.69.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s revenue was up 262.1% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

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.