NVIDIA (NASDAQ:NVDA) Price Target Raised to $145.00

NVIDIA (NASDAQ:NVDA) had its price target upped by Truist Financial from $140.00 to $145.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts also recently commented on the company. Oppenheimer reaffirmed an outperform rating and set a $110.00 target price on shares of NVIDIA in a report on Thursday, May 23rd. Wolfe Research raised their price target on shares of NVIDIA from $120.00 to $125.00 and gave the stock an outperform rating in a research report on Thursday, May 23rd. UBS Group upped their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company a buy rating in a report on Monday, July 8th. TD Cowen raised their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock a buy rating in a report on Monday, July 15th. Finally, Loop Capital restated a buy rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $142.10.

NVIDIA Price Performance

Shares of NVDA stock opened at $119.37 on Tuesday. The firm has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.15 and a beta of 1.68. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock’s 50-day simple moving average is $120.25 and its 200-day simple moving average is $102.80.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the sale, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total value of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,021,333 shares of company stock valued at $599,173,182. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Large investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp acquired a new position in NVIDIA in the first quarter valued at $45,000. Finally, Coston McIsaac & Partners raised its holdings in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors 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.