Truist Financial Trims NVIDIA (NASDAQ:NVDA) Target Price to $283.00

NVIDIA (NASDAQ:NVDAGet Rating) had its price target cut by Truist Financial to $283.00 in a report issued on Thursday, Stock Target Advisor reports.

Several other analysts have also recently issued reports on the company. StockNews.com initiated coverage on NVIDIA in a report on Thursday, March 31st. They set a hold rating on the stock. Raymond James decreased their price objective on NVIDIA from $365.00 to $250.00 in a report on Thursday. Credit Suisse Group decreased their price target on NVIDIA to $205.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on NVIDIA from $255.00 to $190.00 in a report on Thursday. Finally, Benchmark restated a buy rating and set a $228.00 price target (down previously from $365.00) on shares of NVIDIA in a report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of Buy and an average target price of $269.77.

Shares of NVDA opened at $188.11 on Thursday. The stock has a market capitalization of $547.92 billion, a price-to-earnings ratio of 50.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. NVIDIA has a 1 year low of $155.01 and a 1 year high of $346.47. The business’s 50 day simple moving average is $212.40 and its 200-day simple moving average is $250.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.32 and a quick ratio of 6.05.

NVIDIA (NASDAQ:NVDAGet Rating) last issued its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.07. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. On average, sell-side analysts expect that NVIDIA will post 4.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 9th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, June 8th. NVIDIA’s payout ratio is 4.29%.

In related news, CEO Jen Hsun Huang sold 292,340 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $237.12, for a total transaction of $69,319,660.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark L. Perry sold 16,716 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $263.80, for a total value of $4,409,680.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 409,056 shares of company stock valued at $101,135,342. Company insiders own 4.47% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NVDA. Disciplined Investments LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $25,000. Rather & Kittrell Inc. acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $26,000. Advanced Research Investment Solutions LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $29,000. Claremont Financial Group Inc. acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $29,000. Finally, Emerson Wealth LLC acquired a new stake in shares of NVIDIA in the first quarter worth approximately $27,000. 55.19% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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