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

NVIDIA (NASDAQ:NVDA) had its price objective increased by Citigroup from $170.00 to $175.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts also recently weighed in on NVDA. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $1.70 during trading on Thursday, reaching $144.97. 19,213,814 shares of the company traded hands, compared to its average volume of 395,984,188. NVIDIA has a 52 week low of $45.01 and a 52 week high of $152.89. The company’s 50 day moving average is $133.55 and its two-hundred day moving average is $121.72. 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 capitalization of $3.56 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has approved a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the first quarter worth $27,000. TCTC Holdings LLC purchased a new position in shares of NVIDIA in the first quarter valued at $82,000. Delos Wealth Advisors LLC raised its stake in shares of NVIDIA by 600.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after purchasing an additional 96 shares during the period. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $25,000. 65.27% of the stock is owned by hedge funds and other 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.