NVIDIA (NASDAQ:NVDA) Given New $155.00 Price Target at JPMorgan Chase & Co.

NVIDIA (NASDAQ:NVDA) had its price target increased by JPMorgan Chase & Co. from $115.00 to $155.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other research analysts also recently commented on the company. Raymond James boosted their target price on NVIDIA from $120.00 to $140.00 and gave the company a strong-buy rating in a research note on Thursday. Piper Sandler boosted their price target on NVIDIA from $120.00 to $140.00 and gave the company an overweight rating in a research note on Monday, July 22nd. New Street Research raised shares of NVIDIA from a neutral rating to a buy rating and set a $120.00 price objective on the stock in a research report on Tuesday, August 6th. Wedbush boosted their target price on shares of NVIDIA from $120.00 to $138.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Finally, Evercore ISI increased their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of Moderate Buy and an average target price of $142.10.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $119.37 on Thursday. The stock has a market cap 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. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a quick ratio of 3.14, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $120.10 and a 200-day simple moving average of $103.55.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA will post 2.6 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given 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 (DPR) is presently 2.34%.

Insider Activity

In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,932,333 shares of company stock worth $589,034,302. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the business. Creekside Partners acquired a new stake in shares of NVIDIA in the second quarter valued at $1,982,000. NCP Inc. increased its position in NVIDIA by 922.3% in the 2nd quarter. NCP Inc. now owns 179,890 shares of the computer hardware maker’s stock valued at $22,224,000 after acquiring an additional 162,293 shares in the last quarter. Brown Financial Advisors bought a new position in shares of NVIDIA in the second quarter worth about $3,697,000. Gordian Capital Singapore Pte Ltd lifted its position in shares of NVIDIA by 442.6% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 128,095 shares of the computer hardware maker’s stock worth $15,825,000 after purchasing an additional 104,488 shares in the last quarter. Finally, Centennial Bank AR grew its stake in shares of NVIDIA by 1,205.3% during the second quarter. Centennial Bank AR now owns 979 shares of the computer hardware maker’s stock valued at $121,000 after purchasing an additional 904 shares during 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.