NVIDIA (NASDAQ:NVDA) Price Target Raised to $150.00 at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA) had its price target lifted by The Goldman Sachs Group from $135.00 to $150.00 in a research note published on Friday morning, Marketbeat reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

Several other research firms have also recently weighed in on NVDA. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday, August 29th. Evercore ISI raised their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Wedbush reiterated an outperform rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. StockNews.com lowered shares of NVIDIA from a strong-buy rating to a hold rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley reiterated an overweight rating and issued a $150.00 price target on shares of NVIDIA in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $142.46.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.80 on Friday. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a 50-day simple moving average of $118.54 and a 200 day simple moving average of $110.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that NVIDIA will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,356,270 shares of company stock valued at $391,787,127. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the 1st quarter worth about $30,000. Norwood Financial Corp bought a new position in NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.