NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,300.00

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Sanford C. Bernstein from $1,000.00 to $1,300.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Sanford C. Bernstein currently has an outperform rating on the computer hardware maker’s stock.

Several other equities analysts have also issued reports on NVDA. Tigress Financial boosted their price target on NVIDIA from $790.00 to $985.00 and gave the company a buy rating in a research note on Thursday, February 29th. Robert W. Baird raised their price objective on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an outperform rating in a report on Monday, May 20th. Wedbush reissued an outperform rating and issued a $1,000.00 target price on shares of NVIDIA in a research note on Thursday, May 16th. Wells Fargo & Company raised their price target on shares of NVIDIA from $970.00 to $1,150.00 and gave the stock an overweight rating in a research note on Tuesday, May 14th. Finally, Rosenblatt Securities reiterated a buy rating and issued a $1,400.00 price objective on shares of NVIDIA in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of Moderate Buy and an average target price of $1,123.49.

NVIDIA Stock Up 2.6 %

NVDA opened at $1,064.69 on Thursday. The business has a 50 day moving average of $893.19 and a 200-day moving average of $706.34. The stock has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. NVIDIA has a 1-year low of $366.35 and a 1-year high of $1,064.75.

Shares of NVIDIA are scheduled to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same period last year, the business posted $0.88 EPS. The business’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA will post 23.6 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently disclosed 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 represents a $0.40 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is currently 0.94%.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, 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 transaction, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders sold a total of 46,278 shares of company stock valued at $40,710,498 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of large investors have recently bought and sold shares of NVDA. Baader Bank Aktiengesellschaft increased its position in shares of NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after acquiring an additional 11,445 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in NVIDIA by 16.3% during the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after purchasing an additional 1,724 shares in the last quarter. Shared Vision Wealth Group LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at about $269,000. Grand Alliance Asset Management Ltd acquired a new position in shares of NVIDIA during the fourth quarter worth about $29,961,000. Finally, TrueMark Investments LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $2,639,000. 65.27% of the stock is owned by institutional investors.

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.