NVIDIA (NASDAQ:NVDA) PT Raised to $175.00 at Loop Capital

NVIDIA (NASDAQ:NVDA) had its price target lifted by Loop Capital from $120.00 to $175.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Wedbush raised their target price on shares of NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, May 23rd. Barclays dropped their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an overweight rating on the stock in a research note on Monday, June 10th. Morgan Stanley increased their target price on shares of NVIDIA from $116.00 to $144.00 and gave the stock an overweight rating in a research note on Monday, July 1st. KeyCorp boosted their price target on NVIDIA from $130.00 to $180.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Finally, HSBC increased their price objective on NVIDIA from $105.00 to $135.00 and gave the stock a buy rating in a research report on Friday, May 10th. Six research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $131.59.

NVIDIA Price Performance

NVDA stock opened at $112.28 on Monday. The business’s fifty day moving average price is $120.22 and its 200 day moving average price is $93.21. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. 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 company has a market capitalization of $2.76 trillion, a PE ratio of 65.66, a P/E/G ratio of 1.29 and a beta of 1.68.

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

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the transaction, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at approximately $10,474,135,774.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated 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 transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold a total of 3,720,723 shares of company stock worth $567,785,741 in the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently modified their holdings of NVDA. Vanguard Group Inc. raised its holdings in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. increased its holdings in NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after acquiring an additional 57,160,191 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares in the last quarter. Institutional investors and hedge funds 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.