NVIDIA (NASDAQ:NVDA) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of NVIDIA (NASDAQ:NVDAFree Report) from a hold rating to a strong-buy rating in a report released on Monday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price target on shares of NVIDIA from $91.00 to $108.50 and gave the stock a buy rating in a research report on Monday, May 20th. TD Cowen raised their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a buy rating in a report on Monday. Oppenheimer restated an outperform rating and issued a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Piper Sandler lifted their price target on NVIDIA from $105.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Finally, CICC Research began coverage on NVIDIA in a report on Wednesday, March 6th. They issued an outperform rating and a $87.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $116.90.

Read Our Latest Research Report on NVDA

NVIDIA Stock Up 3.5 %

NASDAQ NVDA opened at $129.61 on Monday. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $129.80. The business has a 50 day moving average price of $96.95 and a two-hundred day moving average price of $77.03. The stock has a market cap of $3.19 trillion, a PE ratio of 75.80, a P/E/G ratio of 1.32 and a beta of 1.70.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The firm’s revenue was up 262.1% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is currently 2.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 227,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $88.00, for a total value of $19,975,319.00. Following the sale, the director now owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 227,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 150,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total value of $18,063,000.00. Following the sale, the director now directly owns 9,846,240 shares in the company, valued at $1,185,684,220.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,297,870 shares of company stock valued at $248,210,038. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at $27,000. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Criterion Capital Advisors LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Finally, HBC Financial Services PLLC purchased a new position in shares of NVIDIA during the first quarter valued at $30,000. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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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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