NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,200.00 at Piper Sandler

NVIDIA (NASDAQ:NVDA) had its target price boosted by Piper Sandler from $1,050.00 to $1,200.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and set a $900.00 price objective on shares of NVIDIA in a research report on Monday, March 4th. Rosenblatt Securities reiterated a buy rating and set a $1,400.00 price objective on shares of NVIDIA in a research report on Monday, May 20th. Tigress Financial increased their price objective on NVIDIA from $790.00 to $985.00 and gave the company a buy rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $720.00 to $850.00 and gave the company a hold rating in a research report on Wednesday, March 20th. Finally, Susquehanna increased their price objective on NVIDIA from $1,050.00 to $1,100.00 and gave the company a positive rating in a research report on Monday, May 20th. Five investment 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 company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Stock Performance

NVDA opened at $1,064.69 on Thursday. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67. NVIDIA has a 1-year low of $366.35 and a 1-year high of $1,064.75. The business has a 50 day moving average price of $893.19 and a two-hundred day moving average price of $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 created shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share 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 the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm’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 firm posted $0.88 earnings per share. Research analysts predict that NVIDIA will post 23.6 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. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 0.94%.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 128 shares of the firm’s 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 directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. Insiders have sold 46,278 shares of company stock valued at $40,710,498 over the last three months. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter worth about $27,000. LFA Lugano Financial Advisors SA bought a new position in NVIDIA during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC bought a new position in NVIDIA during the fourth quarter worth about $28,000. Finally, Your Advocates Ltd. LLP bought a new position in NVIDIA during the third quarter worth about $30,000. 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.