NVIDIA (NASDAQ:NVDA) Stock Price Up 2.4% on Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 2.4% during trading on Tuesday after Mizuho raised their price target on the stock from $140.00 to $165.00. Mizuho currently has an outperform rating on the stock. NVIDIA traded as high as $149.65 and last traded at $148.78. Approximately 71,785,727 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 401,576,844 shares. The stock had previously closed at $145.26.

Several other research analysts have also weighed in on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. Evercore ISI increased their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. raised its holdings in NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of NVIDIA by 24.3% in the 1st quarter. Avior Wealth Management LLC now owns 27,179 shares of the computer hardware maker’s stock worth $24,558,000 after buying an additional 5,309 shares in the last quarter. Prosperity Consulting Group LLC lifted its holdings in shares of NVIDIA by 35.2% in the first quarter. Prosperity Consulting Group LLC now owns 5,533 shares of the computer hardware maker’s stock valued at $4,999,000 after buying an additional 1,440 shares during the period. Financial Guidance Group Inc. bought a new position in NVIDIA during the first quarter valued at about $325,000. Finally, BOK Financial Private Wealth Inc. grew its holdings in NVIDIA by 28.1% during the first quarter. BOK Financial Private Wealth Inc. now owns 551 shares of the computer hardware maker’s stock worth $498,000 after acquiring an additional 121 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 2.1 %

The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $127.79 and its 200 day simple moving average is $118.90. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 69.62, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.