Citigroup Raises NVIDIA (NASDAQ:NVDA) Price Target to $1,260.00

NVIDIA (NASDAQ:NVDA) had its price target increased by Citigroup from $1,030.00 to $1,260.00 in a research note released on Thursday morning, MarketBeat.com reports. Citigroup currently has a buy rating on the computer hardware maker’s stock.

A number of other research analysts have also recently commented on the company. Piper Sandler increased their price target on NVIDIA from $1,050.00 to $1,200.00 and gave the company an overweight rating in a research note on Thursday. Loop Capital initiated coverage on NVIDIA in a research note on Friday, February 16th. They set a buy rating and a $1,200.00 price target on the stock. Susquehanna upped their price objective on NVIDIA from $1,050.00 to $1,100.00 and gave the company a positive rating in a research note on Monday, May 20th. Raymond James lifted their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock a strong-buy rating in a research report on Thursday. Finally, HSBC upped their price target on shares of NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research report on Friday, May 10th. Five equities 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 company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $1,123.49.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $1,064.69 on Thursday. NVIDIA has a twelve month low of $366.35 and a twelve month high of $1,064.75. The company has a quick ratio of 3.67, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $893.19 and its 200 day simple moving average is $706.34. The firm has a market capitalization of $2.62 trillion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75.

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 issued shares will be payable 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.14 by $0.98. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s revenue was up 262.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. On average, analysts anticipate that NVIDIA will post 23.6 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 0.94%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, 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. In the last ninety days, insiders sold 46,278 shares of company stock valued at $40,710,498. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA in the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP purchased a new stake in shares of NVIDIA during the 3rd quarter worth approximately $30,000. 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.