NVIDIA (NASDAQ:NVDA) PT Raised to $165.00

NVIDIA (NASDAQ:NVDA) had its price target increased by Craig Hallum from $125.00 to $165.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts have also issued reports on NVDA. New Street Research raised NVIDIA from a neutral rating to a buy rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Rosenblatt Securities reiterated a buy rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday. StockNews.com downgraded shares of NVIDIA from a strong-buy rating to a hold rating in a research report on Tuesday, June 18th. Piper Sandler lifted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, July 22nd. Finally, Tigress Financial increased their target price on NVIDIA from $98.50 to $170.00 and gave the company a buy rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Trading Up 1.5 %

NASDAQ NVDA opened at $119.37 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.14 and a current ratio of 4.27. The firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.24 and a beta of 1.68. The firm has a 50 day simple moving average of $120.10 and a 200-day simple moving average of $103.55. NVIDIA has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA will post 2.6 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Debora Shoquist sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $115.16, for a total transaction of $17,273,850.00. Following the sale, the executive vice president now owns 1,553,630 shares of the company’s stock, valued at $178,914,477.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Debora Shoquist sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $115.16, for a total transaction of $17,273,850.00. Following the completion of the sale, the executive vice president now owns 1,553,630 shares in the company, valued at $178,914,477.17. The disclosure for this sale can be found here. Insiders sold 3,932,333 shares of company stock worth $589,034,302 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth about $27,000. 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.