NVIDIA (NASDAQ:NVDA) Shares Up 1.7% Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 1.7% during mid-day trading on Monday after Bank of America raised their price target on the stock from $165.00 to $190.00. Bank of America currently has a buy rating on the stock. NVIDIA traded as high as $141.80 and last traded at $140.40. Approximately 85,534,805 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 417,056,594 shares. The stock had previously closed at $138.00.

A number of other research firms also recently issued reports on NVDA. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. KeyCorp raised their target price on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Citigroup boosted their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was 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 of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,876,270 shares of company stock worth $333,061,527 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Truepoint Inc. grew its position in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Consolidated Planning Corp boosted its stake in NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares during the period. International Private Wealth Advisors LLC grew its holdings in NVIDIA by 1,452.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after buying an additional 7,028 shares in the last quarter. Lafayette Investments Inc. raised its position in shares of NVIDIA by 901.8% during the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after buying an additional 5,140 shares during the last quarter. Finally, AMJ Financial Wealth Management lifted its holdings in shares of NVIDIA by 898.7% in the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock worth $7,326,000 after buying an additional 53,362 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 1.9 %

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 company has a market capitalization of $3.45 trillion, a PE ratio of 65.85, a PEG ratio of 1.25 and a beta of 1.67. The company’s 50 day moving average is $121.88 and its two-hundred day moving average is $112.51.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.