NVIDIA (NASDAQ:NVDA) Price Target Raised to $185.00

NVIDIA (NASDAQ:NVDA) had its target price increased by Melius Research from $165.00 to $185.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Other analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial boosted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

NVIDIA Stock Performance

NASDAQ NVDA traded up $1.98 during trading on Monday, hitting $147.24. The company’s stock had a trading volume of 36,454,234 shares, compared to its average volume of 401,415,500. NVIDIA has a 52 week low of $45.01 and a 52 week high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.61 trillion, a P/E ratio of 68.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The firm has a 50 day moving average price of $127.79 and a 200 day moving average price of $118.90.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities research analysts forecast that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business 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 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

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

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the business’s 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 transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Large investors have recently made changes to their positions in the stock. John G Ullman & Associates Inc. bought a new position in NVIDIA during the 3rd quarter worth about $208,000. German American Bancorp Inc. boosted its position in NVIDIA by 4.7% during the third quarter. German American Bancorp Inc. now owns 256,257 shares of the computer hardware maker’s stock valued at $31,120,000 after purchasing an additional 11,392 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of NVIDIA by 24.4% in the third quarter. Landscape Capital Management L.L.C. now owns 13,815 shares of the computer hardware maker’s stock valued at $1,678,000 after buying an additional 2,709 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in NVIDIA by 5.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,297,588 shares of the computer hardware maker’s stock worth $2,343,500,000 after purchasing an additional 1,026,107 shares during the period. Finally, Steele Capital Management Inc. grew its stake in NVIDIA by 4.0% in the 3rd quarter. Steele Capital Management Inc. now owns 115,437 shares of the computer hardware maker’s stock valued at $14,020,000 after buying an additional 4,428 shares during the last quarter. Institutional investors 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.