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

NVIDIA (NASDAQ:NVDA) had its price objective increased by Mizuho from $132.00 to $140.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a strong-buy rating in a report on Thursday. Loop Capital reissued a buy rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Needham & Company LLC boosted their price target on NVIDIA from $120.00 to $145.00 and gave the company a buy rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on NVIDIA from $116.00 to $144.00 and gave the stock an overweight rating in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $142.10.

NVIDIA Trading Up 1.5 %

Shares of NVDA 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 company has a market capitalization of $2.93 trillion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. The stock has a fifty day moving average of $120.10 and a two-hundred day moving average of $103.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.14 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, analysts forecast that NVIDIA will post 2.6 EPS for the current year.

NVIDIA Cuts Dividend

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its Board of Directors has authorized a share 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value 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 $3,544,451,651.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,932,333 shares of company stock valued at $589,034,302. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA during the first quarter worth approximately $45,000. Finally, Coston McIsaac & Partners grew its holdings in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.