NVIDIA (NASDAQ:NVDA) Price Target Raised to $190.00

NVIDIA (NASDAQ:NVDA) had its target price upped by Evercore ISI from $189.00 to $190.00 in a research report sent to investors on Thursday morning, Marketbeat reports. The firm currently has an outperform rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Susquehanna increased their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA opened at $141.95 on Thursday. The stock has a 50 day moving average of $134.01 and a 200 day moving average of $122.28. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. NVIDIA has a 12 month low of $45.01 and a 12 month high of $152.89. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value 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 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of NVIDIA by 23.0% during the first quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock valued at $64,389,000 after purchasing an additional 13,315 shares in the last quarter. Allen Investment Management LLC boosted its position in shares of NVIDIA by 20.2% during the first quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock valued at $59,380,000 after buying an additional 11,047 shares during the last quarter. Monolith Management Ltd increased its holdings in NVIDIA by 266.8% in the 1st quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock worth $63,475,000 after buying an additional 51,100 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its position in NVIDIA by 155.3% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock worth $8,765,000 after buying an additional 5,900 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.