KeyCorp Raises NVIDIA (NASDAQ:NVDA) Price Target to $180.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by KeyCorp from $130.00 to $180.00 in a report issued on Tuesday, Marketbeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $125.00 to $155.00 and gave the company an overweight rating in a research note on Tuesday, June 18th. Susquehanna boosted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a positive rating in a research report on Monday, June 10th. Tigress Financial boosted their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a buy rating in a research report on Tuesday, June 18th. Evercore ISI boosted their price target on shares of NVIDIA from $131.00 to $145.00 and gave the company an outperform rating in a research report on Tuesday, June 11th. Finally, Needham & Company LLC boosted their price target on shares of NVIDIA from $85.00 to $120.00 and gave the company a buy rating in a research report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $128.29.

NVIDIA Stock Down 5.6 %

NVIDIA stock opened at $127.40 on Tuesday. NVIDIA has a 1-year low of $39.23 and a 1-year high of $140.76. The firm has a market capitalization of $3.13 trillion, a price-to-earnings ratio of 74.50, a P/E/G ratio of 1.42 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a 50 day simple moving average of $114.17 and a 200 day simple moving average of $88.18.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same period in the previous year, the business earned $0.09 EPS. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. On average, analysts predict that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were issued a dividend of $0.10 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. Insiders sold 2,744,590 shares of company stock valued at $446,110,085 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in the stock. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter worth $252,000. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of NVIDIA during the 3rd quarter valued at $239,000. Public Sector Pension Investment Board lifted its stake in shares of NVIDIA by 24.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 656,780 shares of the computer hardware maker’s stock valued at $285,693,000 after buying an additional 128,491 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of NVIDIA by 1.6% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,682,253 shares of the computer hardware maker’s stock valued at $731,763,000 after buying an additional 25,768 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of NVIDIA by 1,586.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 76,757 shares of the computer hardware maker’s stock valued at $33,389,000 after buying an additional 72,205 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.