NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,300.00 by Analysts at Sanford C. Bernstein

NVIDIA (NASDAQ:NVDA) had its price objective upped by Sanford C. Bernstein from $1,000.00 to $1,300.00 in a report published on Thursday morning, Marketbeat reports. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

A number of other brokerages have also recently commented on NVDA. Morgan Stanley increased their price objective on shares of NVIDIA from $795.00 to $1,000.00 and gave the company an overweight rating in a research note on Wednesday, April 10th. The Goldman Sachs Group lifted their price objective on NVIDIA from $1,100.00 to $1,200.00 and gave the stock a buy rating in a research report on Thursday. Wedbush reiterated an outperform rating and set a $1,000.00 target price on shares of NVIDIA in a report on Thursday, May 16th. Stifel Nicolaus boosted their price target on NVIDIA from $910.00 to $1,085.00 and gave the stock a buy rating in a report on Monday, May 20th. Finally, Raymond James increased their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company a strong-buy rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Stock Up 2.6 %

NVDA stock opened at $1,064.69 on Thursday. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $893.19 and its 200 day moving average price is $706.34. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The company has a market cap of $2.62 trillion, a P/E ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75.

NVIDIA shares are scheduled to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating the consensus estimate of $5.14 by $0.98. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, research analysts expect that NVIDIA will post 23.6 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. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.10 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Tuesday, June 11th. NVIDIA’s payout ratio is presently 0.94%.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,278 shares of company stock worth $40,710,498. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn FI LLC raised its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC increased its holdings in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its stake in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares in the last quarter. M. Kraus & Co lifted its holdings in NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares during the last quarter. Finally, Sterling Financial Group Inc. grew its position in shares of NVIDIA by 0.9% in the 1st quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock worth $1,312,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.