KeyCorp Raises NVIDIA (NASDAQ:NVDA) Price Target to $1,300.00

NVIDIA (NASDAQ:NVDA) had its price objective boosted by KeyCorp from $1,200.00 to $1,300.00 in a report released on Thursday, MarketBeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

Several other brokerages have also issued reports on NVDA. Stifel Nicolaus boosted their price target on NVIDIA from $910.00 to $1,085.00 and gave the company a buy rating in a research note on Monday, May 20th. Rosenblatt Securities reissued a buy rating and issued a $1,400.00 price target on shares of NVIDIA in a report on Monday, May 20th. TD Cowen raised their target price on NVIDIA from $900.00 to $1,100.00 and gave the stock an outperform rating in a research report on Thursday, March 21st. Mizuho lifted their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a buy rating in a report on Thursday, March 7th. Finally, Oppenheimer restated an outperform rating and set a $1,100.00 target price on shares of NVIDIA in a report on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $1,123.49.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $1,064.69 on Thursday. NVIDIA has a 12 month low of $366.35 and a 12 month high of $1,064.75. The company has a quick ratio of 3.67, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.62 trillion, a P/E ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. The business’s 50 day moving average is $893.19 and its two-hundred day moving average is $704.65.

Shares of NVIDIA are set to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be payable to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 262.1% on a year-over-year basis. On average, equities analysts expect that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s payout ratio is presently 1.34%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold 51,278 shares of company stock valued at $44,714,198 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Baader Bank Aktiengesellschaft grew its holdings in shares of NVIDIA by 34.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after purchasing an additional 1,724 shares in the last quarter. Shared Vision Wealth Group LLC bought a new position in NVIDIA in the fourth quarter valued at about $269,000. Grand Alliance Asset Management Ltd acquired a new stake in shares of NVIDIA during the fourth quarter valued at about $29,961,000. Finally, TrueMark Investments LLC bought a new stake in shares of NVIDIA during the fourth quarter worth about $2,639,000. Institutional investors and hedge funds 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.