NVIDIA (NASDAQ:NVDA) Price Target Raised to $180.00

NVIDIA (NASDAQ:NVDA) had its price target boosted by Susquehanna from $160.00 to $180.00 in a report issued on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the computer hardware maker’s stock.

NVDA has been the topic of several other research reports. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Citigroup raised their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James upped their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Bank of America lifted their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Five research 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 company’s stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Stock Performance

NVDA opened at $141.98 on Thursday. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a market cap of $3.48 trillion, a P/E ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66. The stock’s 50 day simple moving average is $130.97 and its 200 day simple moving average is $120.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA will post 2.67 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter worth about $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the first quarter valued at about $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the first quarter valued at approximately $82,000. Finally, Slocum Gordon & Co LLP acquired a new stake in NVIDIA during the first quarter valued at approximately $98,000. 65.27% of the stock is currently 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.