NVIDIA (NASDAQ:NVDA) Sees 2% Increase in Stock Price After Analyst Upgrade

NVIDIA (NASDAQ:NVDA) Sees 2% Increase in Stock Price After Analyst Upgrade


Shares of NVIDIA Co. (NASDAQ:NVDAGet Free Report) were up 2% on Monday after UBS Group raised their price target on the stock from $800.00 to $1,100.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as high as $967.66 and last traded at $962.02. Approximately 23,039,717 shares changed hands during trading, a decline of 57% from the average daily volume of 53,547,148 shares. The stock had previously closed at $942.89.

Several other equities research analysts also recently commented on NVDA. Morgan Stanley upped their target price on NVIDIA from $750.00 to $795.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. TD Cowen upped their target price on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. HSBC upped their target price on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, KeyCorp reissued an “overweight” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $908.68.

Read Our Latest Research Report on NVIDIA

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark A. Stevens sold 12,000 shares of NVIDIA stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The disclosure for this sale can be found here. Insiders have sold 104,774 shares of company stock valued at $64,322,528 in the last 90 days. 3.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Norges Bank bought a new position in NVIDIA in the 4th quarter valued at $14,606,369,000. Moneta Group Investment Advisors LLC raised its position in NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after purchasing an additional 19,574,443 shares during the last quarter. International Assets Investment Management LLC raised its position in NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Legal & General Group Plc raised its position in NVIDIA by 28.7% in the 4th quarter. Legal & General Group Plc now owns 20,791,626 shares of the computer hardware maker’s stock valued at $10,296,429,000 after purchasing an additional 4,640,088 shares during the last quarter. Finally, Morgan Stanley raised its position in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.8 %

The company has a 50-day simple moving average of $743.67 and a 200-day simple moving average of $562.64. The stock has a market cap of $2.38 trillion, a P/E ratio of 79.57, a P/E/G ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 22.4 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

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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