NVIDIA (NASDAQ:NVDA) Shares Up 3.1% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shares rose 3.1% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $135.00 to $150.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $139.53 and last traded at $138.99. Approximately 76,364,531 shares were traded during trading, a decline of 82% from the average daily volume of 420,685,531 shares. The stock had previously closed at $134.80.

NVDA has been the subject of a number of other research reports. Mizuho boosted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.46.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,654,995 shares in the company, valued at approximately $9,373,315,754.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total value of $14,300,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,654,995 shares in the company, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,236,270 shares of company stock valued at $376,316,727 over the last 90 days. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors have recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth about $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA in the 1st quarter worth $30,000. Norwood Financial Corp bought a new position in NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its holdings in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

The company’s fifty day moving average price is $119.30 and its 200 day moving average price is $111.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.40 trillion, a PE ratio of 80.74, a P/E/G ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.