NVIDIA (NASDAQ:NVDA) Trading 1.6% Higher on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA) shares shot up 1.6% during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $235.00 to $250.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as high as $180.30 and last traded at $179.92. 181,372,218 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 225,971,609 shares. The stock had previously closed at $177.00.

Several other research analysts also recently weighed in on NVDA. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Raymond James Financial set a $272.00 target price on NVIDIA and gave the company a “strong-buy” rating in a report on Thursday, November 20th. CICC Research lifted their price target on NVIDIA from $200.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Wedbush increased their price objective on NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, KeyCorp raised their price objective on NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Five investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Buy” and an average target price of $258.65.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $207.91, for a total value of $5,197,750.00. Following the transaction, the chief executive officer directly owned 69,733,203 shares in the company, valued at $14,498,230,235.73. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 626 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the transaction, the director owned 17,792 shares of the company’s stock, valued at $3,192,240.64. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,012,203 shares of company stock valued at $542,065,894. Insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $28,000. Winnow Wealth LLC acquired a new stake in NVIDIA during the second quarter worth approximately $32,000. Longfellow Investment Management Co. LLC increased its holdings in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $40,000. Finally, Kathleen S. Wright Associates Inc. lifted its stake in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after buying an additional 254 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

The stock has a market capitalization of $4.41 trillion, a P/E ratio of 51.70, a PEG ratio of 1.49 and a beta of 2.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The business has a fifty day simple moving average of $186.88 and a 200-day simple moving average of $171.35.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The company had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. NVIDIA’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is currently 0.99%.

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.