Loop Capital Raises NVIDIA (NASDAQ:NVDA) Price Target to $175.00

NVIDIA (NASDAQ:NVDA) had its price objective boosted by Loop Capital from $120.00 to $175.00 in a report issued on Monday morning, Benzinga reports. Loop Capital currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. Barclays lowered their price target on NVIDIA from $1,200.00 to $145.00 and set an overweight rating for the company in a research report on Monday, June 10th. Cantor Fitzgerald lifted their target price on NVIDIA from $140.00 to $175.00 and gave the company an overweight rating in a report on Wednesday, June 26th. Jefferies Financial Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the company a buy rating in a report on Monday, June 24th. DZ Bank lowered NVIDIA from a buy rating to a hold rating and set a $102.50 target price for the company. in a report on Friday, May 24th. Finally, Evercore ISI lifted their target price on NVIDIA from $131.00 to $145.00 and gave the company an outperform rating in a report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $131.59.

NVIDIA Trading Down 6.8 %

NVDA opened at $114.25 on Monday. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76. The business has a fifty day simple moving average of $119.86 and a 200-day simple moving average of $93.08. The firm has a market cap of $2.81 trillion, a P/E ratio of 66.81, a P/E/G ratio of 1.30 and a beta of 1.68. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. 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 analyst estimates of $24.59 billion. During the same period last year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 262.1% on a year-over-year basis. On average, equities analysts expect that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is 2.34%.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 3,600,723 shares of company stock worth $553,716,941 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in NVIDIA by 829.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after purchasing an additional 57,160,191 shares during the last quarter. Swedbank AB increased its holdings in NVIDIA by 798.8% during the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares in the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth about $14,606,369,000. New York State Teachers Retirement System lifted its holdings in shares of NVIDIA by 852.4% in the second quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock valued at $2,935,815,000 after purchasing an additional 21,268,926 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of NVIDIA by 54,019.5% in the fourth 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 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.