NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,288.00

NVIDIA (NASDAQ:NVDA) had its target price boosted by Truist Financial from $1,177.00 to $1,288.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the computer hardware maker’s stock.

Several other equities analysts also recently issued reports on NVDA. UBS Group raised their price target on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Barclays lifted their target price on NVIDIA from $850.00 to $1,100.00 and gave the stock an overweight rating in a report on Monday, May 20th. Argus increased their price target on NVIDIA from $850.00 to $950.00 and gave the company a buy rating in a research note on Wednesday, March 20th. CICC Research assumed coverage on NVIDIA in a research note on Wednesday, March 6th. They issued an outperform rating and a $870.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company a buy rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Stock Up 2.6 %

Shares of 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 market capitalization of $2.62 trillion, a PE ratio of 89.17, a price-to-earnings-growth 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. The company has a fifty day moving average of $893.19 and a 200-day moving average of $704.65.

Shares of NVIDIA are going to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts predict that NVIDIA will post 23.18 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm 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 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. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is presently 1.34%.

Insider Activity at NVIDIA

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

Institutional Investors Weigh In On NVIDIA

Several large investors have recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA in the first quarter worth $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA in the first quarter worth $45,000. Finally, Coston McIsaac & Partners raised its stake in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors 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.