NVIDIA (NASDAQ:NVDA) Price Target Raised to $155.00

NVIDIA (NASDAQ:NVDA) had its price target increased by JPMorgan Chase & Co. from $115.00 to $155.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

A number of other research analysts have also weighed in on NVDA. Piper Sandler increased their price target on NVIDIA from $120.00 to $140.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Benchmark increased their target price on NVIDIA from $135.00 to $170.00 and gave the stock a buy rating in a research report on Friday, July 12th. Evercore ISI increased their target price on NVIDIA from $145.00 to $150.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Robert W. Baird increased their target price on NVIDIA from $120.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Oppenheimer reaffirmed an outperform rating and issued a $110.00 target price on shares of NVIDIA in a research report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Trading Up 1.5 %

Shares of NVIDIA stock opened at $119.37 on Thursday. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The firm has a market cap of $2.94 trillion, a PE ratio of 69.81, a P/E/G ratio of 1.15 and a beta of 1.68. The business’s fifty day moving average is $120.10 and its two-hundred day moving average is $103.13. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 13th. The stock was 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 SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now 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 sold a total of 4,021,333 shares of company stock valued at $599,173,182 over the last three months. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft boosted its stake in NVIDIA by 34.9% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after acquiring an additional 11,445 shares during the period. Wealthspire Advisors LLC boosted its position in shares of NVIDIA by 16.3% during the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after buying an additional 1,724 shares during the period. Shared Vision Wealth Group LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $269,000. Grand Alliance Asset Management Ltd acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $29,961,000. Finally, OMNI 360 Wealth Inc. acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $240,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.