NVIDIA (NASDAQ:NVDA) Shares Up 3.1% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report) shares were up 3.1% on Monday after Barclays raised their price target on the stock from $160.00 to $175.00. Barclays currently has an overweight rating on the stock. NVIDIA traded as high as $138.50 and last traded at $137.71. Approximately 200,365,998 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 184,317,696 shares. The stock had previously closed at $133.57.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. 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. DA Davidson boosted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

Check Out Our Latest Analysis on NVIDIA

Insider Buying and Selling at NVIDIA

In related 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 sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of the business. High Net Worth Advisory Group LLC increased its holdings in NVIDIA by 3.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 109,672 shares of the computer hardware maker’s stock worth $14,728,000 after buying an additional 3,953 shares during the period. OLIO Financial Planning purchased a new stake in NVIDIA in the 4th quarter worth approximately $610,000. 1834 Investment Advisors Co. boosted its position in NVIDIA by 5.4% in the 4th quarter. 1834 Investment Advisors Co. now owns 28,560 shares of the computer hardware maker’s stock worth $3,835,000 after purchasing an additional 1,473 shares in the last quarter. Novare Capital Management LLC boosted its position in NVIDIA by 2.5% in the 4th quarter. Novare Capital Management LLC now owns 169,057 shares of the computer hardware maker’s stock worth $22,703,000 after purchasing an additional 4,096 shares in the last quarter. Finally, Navis Wealth Advisors LLC boosted its position in NVIDIA by 0.7% in the 4th quarter. Navis Wealth Advisors LLC now owns 30,167 shares of the computer hardware maker’s stock worth $4,051,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 2.3 %

The firm has a market cap of $3.45 trillion, a PE ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $138.84 and a 200 day simple moving average of $129.11.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA Company Profile

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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.

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