NVIDIA (NASDAQ:NVDA) Given New $1,400.00 Price Target at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA) had its target price boosted by Cantor Fitzgerald from $1,200.00 to $1,400.00 in a research note published on Thursday, MarketBeat reports. Cantor Fitzgerald currently has an overweight rating on the computer hardware maker’s stock.

Other analysts have also issued reports about the company. Jefferies Financial Group raised their price target on NVIDIA from $1,200.00 to $1,350.00 and gave the stock a buy rating in a research note on Thursday. Susquehanna upped their price target on shares of NVIDIA from $1,050.00 to $1,100.00 and gave the stock a positive rating in a research report on Monday, May 20th. CICC Research initiated coverage on shares of NVIDIA in a report on Wednesday, March 6th. They issued an outperform rating and a $870.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on NVIDIA from $850.00 to $1,150.00 and gave the stock an overweight rating in a report on Thursday. Finally, Tigress Financial lifted their target price on NVIDIA from $790.00 to $985.00 and gave the company a buy rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Price Performance

NASDAQ:NVDA opened at $1,064.69 on Thursday. The firm has a market cap of $2.62 trillion, a price-to-earnings ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75. NVIDIA has a 12-month low of $366.35 and a 12-month high of $1,064.75. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $893.19 and its two-hundred day moving average is $706.34.

Shares of NVIDIA are set to split before the market opens on 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 issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating 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 company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same period in the previous year, the firm posted $0.88 EPS. NVIDIA’s revenue was up 262.1% on a year-over-year basis. Research analysts expect that NVIDIA will post 23.6 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a $0.10 dividend. This is an increase 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 payout ratio is presently 0.94%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark A. Stevens sold 12,000 shares of NVIDIA stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’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 sale, the insider now directly 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 ninety days, insiders sold 46,278 shares of company stock worth $40,710,498. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 8,828,050 shares during the period. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth about $14,606,369,000. Northern Trust Corp grew its stake in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of NVIDIA by 54,019.5% in the 4th 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. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NVIDIA by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares in the last quarter. Institutional investors and hedge funds 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.