NVIDIA (NASDAQ:NVDA) Stock Price Up 2.1% on Analyst Upgrade

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 2.1% during 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. 151,806,300 shares changed hands during trading, a decline of 43% from the average session volume of 267,582,969 shares. The stock had previously closed at $120.15.

Several other research firms have also weighed in on NVDA. Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Stifel Nicolaus increased their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $169.62.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. BridgePort Financial Solutions LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $2,496,000. Park Square Financial Group LLC acquired a new position in NVIDIA during the 4th quarter valued at about $16,404,000. Total Wealth Planning & Management Inc. bought a new stake in shares of NVIDIA during the 4th quarter worth about $2,075,000. Menard Financial Group LLC raised its position in shares of NVIDIA by 1.5% during the 4th quarter. Menard Financial Group LLC now owns 95,303 shares of the computer hardware maker’s stock worth $12,798,000 after buying an additional 1,398 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NVIDIA in the 4th quarter worth approximately $2,987,733,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.06 trillion, a P/E ratio of 49.12, a PEG ratio of 1.76 and a beta of 1.62. The firm’s fifty day moving average price is $134.19 and its 200-day moving average price is $131.92.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.