NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00

NVIDIA (NASDAQ:NVDA) had its price target upped by Oppenheimer from $150.00 to $175.00 in a research report report published on Thursday, MarketBeat reports. They currently have an outperform rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday. Needham & Company LLC upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Stock Performance

NVDA stock opened at $141.98 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a 50 day moving average price of $130.97 and a 200 day moving average price of $120.32. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The stock has a market capitalization of $3.48 trillion, a PE ratio of 66.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently modified their holdings of the business. Hamilton Wealth LLC lifted its position in shares of NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the last quarter. Curran Financial Partners LLC lifted its position in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC lifted its position in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares during the last quarter. Poehling Capital Management INC. lifted its position in NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the last quarter. Finally, FSA Wealth Management LLC lifted its position in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares during the last quarter. 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.