NVIDIA (NASDAQ:NVDA) Given New $1,310.00 Price Target at Evercore ISI

NVIDIA (NASDAQ:NVDA) had its price objective increased by Evercore ISI from $1,160.00 to $1,310.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. Evercore ISI currently has an outperform rating on the computer hardware maker’s stock.

Several other research analysts also recently commented on the company. Bank of America raised their target price on NVIDIA from $925.00 to $1,100.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Rosenblatt Securities reaffirmed a buy rating and issued a $1,400.00 price target on shares of NVIDIA in a report on Monday, May 20th. Tigress Financial raised their price target on NVIDIA from $790.00 to $985.00 and gave the company a buy rating in a report on Thursday, February 29th. Wells Fargo & Company raised their price target on NVIDIA from $970.00 to $1,150.00 and gave the company an overweight rating in a report on Tuesday, May 14th. Finally, Mizuho raised their price target on NVIDIA from $1,000.00 to $1,180.00 and gave the company a buy rating in a report on Thursday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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 business has a 50-day simple moving average of $893.19 and a two-hundred day simple moving average of $706.34. 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 company has a market cap of $2.62 trillion, a P/E ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75.

Shares of NVIDIA are scheduled 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 issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue was up 262.1% compared to the same quarter last year. Research analysts anticipate that NVIDIA will post 23.6 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. This is a positive change 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 is Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 0.94%.

Insider Transactions at NVIDIA

In other 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 value of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred 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 sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,278 shares of company stock worth $40,710,498. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Brooklyn FI LLC raised its stake in NVIDIA by 2.5% during the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its stake in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. M. Kraus & Co raised its stake in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 shares during the last quarter. Finally, Sterling Financial Group Inc. raised its stake in shares of NVIDIA by 0.9% in the first quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock worth $1,312,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.