Raymond James Boosts NVIDIA (NASDAQ:NVDA) Price Target to $140.00

NVIDIA (NASDAQ:NVDA) had its price objective upped by Raymond James from $120.00 to $140.00 in a research report released on Thursday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the computer hardware maker’s stock.

A number of other research analysts have also recently weighed in on NVDA. StockNews.com cut shares of NVIDIA from a strong-buy rating to a hold rating in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. HSBC increased their price target on NVIDIA from $135.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Susquehanna boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the company a positive rating in a research report on Monday, June 10th. Finally, Bank of America increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a buy rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NVIDIA has an average rating of Moderate Buy and an average price target of $142.10.

NVIDIA Stock Up 1.5 %

Shares of NVDA opened at $119.37 on Thursday. The company has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.15 and a beta of 1.68. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76. The stock’s 50-day moving average price is $120.10 and its 200-day moving average price 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 released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts predict that NVIDIA will post 2.53 EPS for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Debora Shoquist sold 150,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $115.16, for a total value of $17,273,850.00. Following the completion of the transaction, the executive vice president now owns 1,553,630 shares in the company, valued at $178,914,477.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the sale, the chief executive officer now directly owns 76,614,995 shares in the company, valued at $8,031,549,925.85. The disclosure for this sale can be found here. Insiders sold a total of 4,021,333 shares of company stock worth $599,173,182 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter worth approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.