NVIDIA (NASDAQ:NVDA) Given “Buy” Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $140.00 price objective on the computer hardware maker’s stock, up from their prior price objective of $128.80.

Several other equities analysts also recently weighed in on NVDA. Tigress Financial raised their price objective on NVIDIA from $98.50 to $170.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Sanford C. Bernstein lifted their price objective on NVIDIA from $100.00 to $130.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Morgan Stanley reaffirmed an overweight rating on shares of NVIDIA in a report on Monday, June 10th. Raymond James lifted their price objective on NVIDIA from $110.00 to $120.00 and gave the stock a strong-buy rating in a report on Thursday, May 23rd. Finally, Bank of America lifted their price objective on NVIDIA from $132.00 to $150.00 and gave the stock a buy rating in a report on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $125.66.

NVIDIA Stock Performance

Shares of NVDA stock opened at $123.54 on Thursday. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 72.25, a price-to-earnings-growth ratio of 1.30 and a beta of 1.70. The stock has a 50 day simple moving average of $106.24 and a 200-day simple moving average of $83.73. 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.

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

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 227,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $88.00, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark A. Stevens sold 227,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $88.00, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’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 approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold 1,866,590 shares of company stock valued at $324,317,704 over the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake 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 worth $192,761,538,000 after acquiring an additional 8,828,050 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA in the fourth quarter worth about $14,606,369,000. International Assets Investment Management LLC raised its stake in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after buying an additional 388,851 shares in the last quarter. Finally, Capital World Investors raised its stake in NVIDIA by 15.2% during the fourth quarter. Capital World Investors now owns 11,516,395 shares of the computer hardware maker’s stock valued at $5,703,149,000 after buying an additional 1,523,718 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.