NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,160.00

NVIDIA (NASDAQ:NVDAFree Report) had its price objective upped by Morgan Stanley from $1,000.00 to $1,160.00 in a report published on Thursday morning, Marketbeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other equities research analysts have also weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $1,000.00 to $1,300.00 and gave the stock an outperform rating in a report on Thursday. Wedbush reaffirmed an outperform rating and set a $1,000.00 price objective on shares of NVIDIA in a research note on Thursday, May 16th. UBS Group boosted their target price on NVIDIA from $1,100.00 to $1,150.00 and gave the company a buy rating in a research note on Tuesday, April 30th. DA Davidson raised their price target on NVIDIA from $410.00 to $620.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Finally, Susquehanna lifted their price target on NVIDIA from $1,050.00 to $1,100.00 and gave the stock a positive rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of Moderate Buy and an average target price of $1,123.49.

Get Our Latest Analysis on NVIDIA

NVIDIA Stock Performance

NASDAQ NVDA opened at $1,064.69 on Thursday. NVIDIA has a 52-week low of $366.35 and a 52-week high of $1,064.75. The company has a fifty day moving average of $893.19 and a 200-day moving average of $704.65. The company has a market capitalization of $2.62 trillion, a P/E ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53.

NVIDIA shares are set to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be issued to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. As a group, equities research analysts predict that NVIDIA will post 23.18 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be paid a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold a total of 51,278 shares of company stock valued at $44,714,198 in the last quarter. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $14,606,369,000. International Assets Investment Management LLC lifted its position in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Vanguard Group Inc. boosted its holdings in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC bought a new stake in NVIDIA in the 1st quarter worth approximately $4,826,280,000. Finally, Swedbank AB purchased a new stake in NVIDIA during the 1st quarter valued at $3,922,733,000. 65.27% of the stock is owned by institutional investors.

About NVIDIA

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.