NVIDIA (NASDAQ:NVDA) Price Target Raised to $170.00

NVIDIA (NASDAQ:NVDA) had its price objective raised by Raymond James from $140.00 to $170.00 in a research note released on Thursday,Benzinga reports. They currently have a strong-buy rating on the computer hardware maker’s stock.

A number of other equities analysts also recently weighed in on NVDA. William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America lifted their price target on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Citigroup increased their price objective on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 3.3 %

Shares of NASDAQ NVDA opened at $141.98 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA has a one year low of $45.01 and a one year high of $149.77. The business has a 50-day moving average price of $130.97 and a two-hundred day moving average price of $120.58. The firm has a market capitalization of $3.48 trillion, a PE ratio of 66.60, a PEG ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, analysts predict that NVIDIA will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently bought and sold shares of the business. Hamilton Wealth LLC grew its holdings in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the last quarter. Curran Financial Partners LLC increased its stake in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its position in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Poehling Capital Management INC. lifted its stake in shares of NVIDIA by 0.9% during the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. Finally, FSA Wealth Management LLC boosted its holdings in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 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.