NVIDIA (NASDAQ:NVDA) Earns “Buy” Rating from Truist Financial

Truist Financial reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $140.00 price target on the computer hardware maker’s stock, up from their previous price target of $128.80.

NVDA has been the topic of several other research reports. Barclays reduced their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an overweight rating on the stock in a research report on Monday, June 10th. Jefferies Financial Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a buy rating in a research report on Monday, June 24th. Stifel Nicolaus increased their price target on shares of NVIDIA from $91.00 to $108.50 and gave the stock a buy rating in a research report on Monday, May 20th. The Goldman Sachs Group increased their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Finally, TD Cowen increased their price target on shares of NVIDIA from $120.00 to $140.00 and gave the stock a buy rating in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of Moderate Buy and an average target price of $125.66.

NVIDIA Trading Down 0.4 %

NASDAQ NVDA opened at $123.54 on Thursday. The firm’s 50-day moving average is $106.24 and its two-hundred day moving average is $83.48. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 72.25, a PEG ratio of 1.31 and a beta of 1.70.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. On average, sell-side analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 1,866,590 shares of company stock valued at $324,317,704 over the last three months. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bright Futures Wealth Management LLC. acquired a new stake in NVIDIA in the first quarter valued at $14,055,000. Quent Capital LLC lifted its holdings in NVIDIA by 3.2% in the first quarter. Quent Capital LLC now owns 14,445 shares of the computer hardware maker’s stock valued at $13,053,000 after acquiring an additional 453 shares during the period. Sensible Money LLC lifted its holdings in NVIDIA by 41.6% in the first quarter. Sensible Money LLC now owns 596 shares of the computer hardware maker’s stock valued at $538,000 after acquiring an additional 175 shares during the period. HM Payson & Co. lifted its holdings in NVIDIA by 97.1% in the first quarter. HM Payson & Co. now owns 152,416 shares of the computer hardware maker’s stock valued at $137,717,000 after acquiring an additional 75,086 shares during the period. Finally, Keynote Financial Services LLC acquired a new stake in NVIDIA in the first quarter valued at $262,000. 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.