NVIDIA (NASDAQ:NVDA) Stock Price Up 0.4% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) shares traded up 0.4% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $1,000.00 to $1,100.00. The Goldman Sachs Group currently has a buy rating on the stock. NVIDIA traded as high as $911.94 and last traded at $908.96. 11,384,410 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 50,850,168 shares. The stock had previously closed at $905.54.

A number of other analysts also recently weighed in on the company. Piper Sandler Companies increased their price objective on NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Wolfe Research upped their target price on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Mizuho raised their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. increased their price target on NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $944.05.

Insider Buying and Selling

In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the business. Cavalier Investments LLC boosted its position in NVIDIA by 10.3% during the third quarter. Cavalier Investments LLC now owns 7,963 shares of the computer hardware maker’s stock valued at $3,464,000 after buying an additional 743 shares during the period. FAS Wealth Partners Inc. raised its position in NVIDIA by 6.9% during the 3rd quarter. FAS Wealth Partners Inc. now owns 12,599 shares of the computer hardware maker’s stock valued at $5,480,000 after purchasing an additional 812 shares during the last quarter. Mcdaniel Terry & Co. grew its position in shares of NVIDIA by 1.4% in the 3rd quarter. Mcdaniel Terry & Co. now owns 2,945 shares of the computer hardware maker’s stock worth $1,281,000 after buying an additional 41 shares during the last quarter. Sheets Smith Wealth Management raised its holdings in NVIDIA by 0.4% in the 3rd quarter. Sheets Smith Wealth Management now owns 8,642 shares of the computer hardware maker’s stock worth $3,759,000 after purchasing an additional 34 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA grew its holdings in shares of NVIDIA by 0.9% during the 3rd quarter. Lederer & Associates Investment Counsel CA now owns 8,291 shares of the computer hardware maker’s stock worth $3,607,000 after acquiring an additional 78 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The firm has a 50-day simple moving average of $872.36 and a 200 day simple moving average of $659.34. The firm has a market cap of $2.25 trillion, a PE ratio of 76.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, equities analysts expect that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

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.