Wolfe Research Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,250.00

NVIDIA (NASDAQ:NVDA) had its price objective boosted by Wolfe Research from $1,200.00 to $1,250.00 in a research note published on Thursday morning, Marketbeat.com reports. They currently have an outperform rating on the computer hardware maker’s stock.

Several other research firms also recently issued reports on NVDA. Barclays upped their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the company an overweight rating in a research note on Monday, May 20th. JPMorgan Chase & Co. raised their price target on NVIDIA from $650.00 to $850.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Loop Capital initiated coverage on NVIDIA in a research note on Friday, February 16th. They issued a buy rating and a $1,200.00 price objective for the company. Cantor Fitzgerald restated an overweight rating and set a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4th. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the company an outperform rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Stock Up 2.6 %

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

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

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. 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 company posted $0.88 earnings per share. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA will post 23.18 EPS for the current fiscal year.

NVIDIA Increases Dividend

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

Insider Activity

In related news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. Insiders have sold 51,278 shares of company stock worth $44,714,198 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVDA. Cetera Advisor Networks LLC increased its stake in NVIDIA by 8.3% in the first quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock valued at $307,055,000 after purchasing an additional 25,930 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of NVIDIA by 107.2% during the 1st quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock worth $204,988,000 after acquiring an additional 117,384 shares during the period. Cetera Investment Advisers lifted its holdings in shares of NVIDIA by 193.7% during the 1st quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock worth $614,955,000 after acquiring an additional 448,841 shares during the period. Invst LLC boosted its position in shares of NVIDIA by 67.6% in the first quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock worth $4,547,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Dodds Wealth LLC grew its holdings in NVIDIA by 10.7% in the first quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock valued at $861,000 after purchasing an additional 92 shares during the period. Hedge funds and other 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.