NVIDIA Co. (NASDAQ:NVDA) Receives $142.46 Average Price Target from Analysts

NVIDIA Co. (NASDAQ:NVDA) has earned a consensus recommendation of “Moderate Buy” from the forty-three brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, thirty-seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $143.07.

Several brokerages recently issued reports on NVDA. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Needham & Company LLC lifted their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Jefferies Financial Group boosted their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group increased their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th.

NVIDIA Stock Performance

NVDA opened at $138.00 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a fifty day simple moving average of $121.88 and a 200 day simple moving average of $112.35. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.89. The company has a market capitalization of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Research analysts expect that NVIDIA will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Large investors have recently modified their holdings of the business. Hamilton Wealth LLC grew its holdings in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the period. Curran Financial Partners LLC increased its holdings in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its position in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the period. Finally, M. Kraus & Co lifted its holdings in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other 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.