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

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

Several other brokerages also recently weighed in on NVDA. Needham & Company LLC boosted their target price on NVIDIA from $850.00 to $1,200.00 and gave the stock a buy rating in a research note on Thursday. Morgan Stanley boosted their target price on NVIDIA from $795.00 to $1,000.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Susquehanna boosted their target price on NVIDIA from $1,050.00 to $1,100.00 and gave the stock a positive rating in a research note on Monday, May 20th. Wells Fargo & Company boosted their target price on NVIDIA from $970.00 to $1,150.00 and gave the stock an overweight rating in a research note on Tuesday, May 14th. Finally, TD Cowen boosted their price target on NVIDIA from $900.00 to $1,100.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Trading Up 2.6 %

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 business’s fifty day simple moving average is $893.19 and its 200-day simple moving average is $706.34. The company has a market capitalization of $2.62 trillion, a PE ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17.

NVIDIA shares are going 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 market closes 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 business had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the business posted $0.88 EPS. The business’s revenue was up 262.1% compared to the same quarter last year. As a group, equities research analysts predict 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. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis 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 is presently 0.94%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the 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 completion of the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the 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 completion of the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the 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 approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 46,278 shares of company stock valued at $40,710,498 over the last quarter. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Bogart Wealth LLC grew its position in shares of NVIDIA by 1,190.9% in the third quarter. Bogart Wealth LLC now owns 9,617 shares of the computer hardware maker’s stock valued at $4,183,000 after purchasing an additional 8,872 shares in the last quarter. RFP Financial Group LLC grew its position in shares of NVIDIA by 9.2% in the third quarter. RFP Financial Group LLC now owns 1,183 shares of the computer hardware maker’s stock valued at $515,000 after purchasing an additional 100 shares in the last quarter. Pathway Financial Advisors LLC grew its position in shares of NVIDIA by 6.8% in the third quarter. Pathway Financial Advisors LLC now owns 2,357 shares of the computer hardware maker’s stock valued at $1,025,000 after purchasing an additional 150 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter valued at approximately $12,621,000. Finally, PayPay Securities Corp grew its position in shares of NVIDIA by 24.8% in the third quarter. PayPay Securities Corp now owns 176 shares of the computer hardware maker’s stock valued at $77,000 after purchasing an additional 35 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.