NVIDIA (NASDAQ:NVDA) Trading Up 2.1% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) was up 2.1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $204.00 to $205.00. Truist Financial currently has a buy rating on the stock. NVIDIA traded as high as $123.70 and last traded at $122.72. Approximately 151,806,300 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 267,582,969 shares. The stock had previously closed at $120.15.

NVDA has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, January 27th. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.62.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock worth $146,405,286 over the last three months. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. International Assets Investment Management LLC raised its holdings in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares during the period. Clear Street Derivatives LLC purchased a new position in NVIDIA during the third quarter worth approximately $4,589,905,000. Northern Trust Corp grew its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC increased its position in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 3.9 %

The firm has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a 50 day moving average price of $134.19 and a two-hundred day moving average price of $132.03.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

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.