Morgan Stanley Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,160.00

NVIDIA (NASDAQ:NVDA) had its price target increased by Morgan Stanley from $1,000.00 to $1,160.00 in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other research analysts have also commented on NVDA. Barclays upped their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company an overweight rating in a report on Monday, May 20th. Needham & Company LLC upped their price target on shares of NVIDIA from $850.00 to $1,200.00 and gave the company a buy rating in a research note on Thursday. Tigress Financial lifted their price objective on shares of NVIDIA from $790.00 to $985.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Sanford C. Bernstein increased their target price on shares of NVIDIA from $1,000.00 to $1,300.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Citigroup lifted their price target on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Trading Up 2.6 %

NVDA stock opened at $1,064.69 on Thursday. NVIDIA has a one year low of $366.35 and a one year high of $1,064.75. The stock has a market cap of $2.62 trillion, a price-to-earnings ratio of 89.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.75. The company has a fifty day moving average price of $893.19 and a two-hundred day moving average price of $704.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67.

Shares of NVIDIA are scheduled to split on the morning of 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 released its quarterly earnings results 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. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations 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. Equities analysts anticipate 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 issued a dividend of $0.10 per share. 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. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is 1.34%.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 51,278 shares of company stock valued at $44,714,198 over the last 90 days. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter valued at $14,606,369,000. Northern Trust Corp boosted its stake in NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. International Assets Investment Management LLC grew its holdings in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares in the last quarter. 65.27% of the stock is 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.