Share price of NVIDIA (NASDAQ:NVDA) rose 0.1% on analyst update

Shares of NVIDIA Co. (NASDAQ:NVDA – Get Free Report ) traded up 0.1% during trading on Thursday, after Wedbush upped their target price for the stock from $120.00 to $138.00. Wedbush currently has an Outperform rating on the stock. NVIDIA traded as high as $130.75 and last traded at $128.64. 89,908,469 shares traded hands during trading, down 80% from the session’s average volume of 445,252,875 shares. Shares previously closed at $128.50.

Several other analysts have also recently commented on the stock. Melius Research lifted their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Wells Fargo & Company raised their target price on shares of NVIDIA from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Evercore ISI raised their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. Mizuho lifted their target price on shares of NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Craig Hallum raised their target price on shares of NVIDIA from $85.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.10.

Check out our latest analysis of NVIDIA

Insider buying and selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is available via this link. In other news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Dawn E. Hudson sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $114.00, for a total transaction of $5,700,200.00. Following the completion of the sale, the director now directly owns 505,000 shares of the company’s stock, valued at approximately $57,572,020. The disclosure for this sale can be found here. Insiders have sold a total of 4,170,723 shares of company stock worth $616,106,141 over the past three months. Company insiders own 4.23% of the company’s shares.

Institutional investors are weighing on NVIDIA

Several hedge funds have recently modified their holdings of NVDA. International Assets Investment Management LLC lifted its position in shares of NVIDIA by 9.3% during the 4th quarter. International Assets Investment Management LLC now owns 34,059 shares of the computer hardware maker’s stock worth $16,867,000 after bought an additional 2,893 shares during the period. Tennessee Valley Asset Management Partners raised its position in NVIDIA by 1.1% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 2,476 shares of the computer hardware maker’s stock valued at $1,226,000 after acquiring an additional 27 shares in the last quarter. Cora Capital Advisors LLC raised its position in NVIDIA by 6.5% in the fourth quarter. Cora Capital Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $414,000 after acquiring an additional 51 shares during the last quarter. Tyche Wealth Partners LLC purchased a new stake in NVIDIA during the fourth quarter valued at about $5,011,000. Finally, Safeguard Financial LLC purchased a new stake in NVIDIA during the fourth quarter valued at about $262,000. Hedge funds and other institutional investors own 65.27% of the company’s shares.

NVIDIA Price Performance

The stock’s 50-day moving average is $120.95 and its 200-day moving average is $101.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53, and a quick ratio of 3.14. The company has a market cap of $3.18 trillion, a PE ratio of 75.65, a PEG ratio of 1.15 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA – Get Your Free Report ) last posted its earnings results 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 company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. In the same quarter last year, the company posted earnings of $0.09 per share. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

About NVIDIA

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NVIDIA Corporation provides graphics and computing 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 graphics workstations; 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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