NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,200.00

NVIDIA (NASDAQ:NVDA) had its target price increased by Robert W. Baird from $1,050.00 to $1,200.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have an outperform rating on the computer hardware maker’s stock.

NVDA has been the topic of several other reports. Bank of America boosted their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a buy rating in a report on Wednesday, March 13th. HSBC upped their price target on NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research report on Friday, May 10th. Morgan Stanley lifted their price objective on NVIDIA from $795.00 to $1,000.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Rosenblatt Securities reissued a buy rating and set a $1,100.00 target price on shares of NVIDIA in a research report on Tuesday, February 20th. Finally, CICC Research started coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They issued an outperform rating and a $870.00 price target on the stock. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of Moderate Buy and a consensus price target of $1,002.18.

NVIDIA Trading Down 0.5 %

Shares of NVIDIA stock opened at $949.50 on Monday. The firm’s 50 day moving average is $886.29 and its 200 day moving average is $696.36. The firm has a market capitalization of $2.34 trillion, a PE ratio of 79.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. NVIDIA has a 1 year low of $298.06 and a 1 year high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 262.1% on a year-over-year basis. Equities research analysts forecast that NVIDIA will post 23.01 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.04%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds have recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA bought a new position in NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new position in NVIDIA in the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP purchased a new position in NVIDIA in the 3rd quarter valued at approximately $30,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Company Profile

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.