NVIDIA (NASDAQ:NVDA) Price Target Raised to $150.00 at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA) had its target price boosted by The Goldman Sachs Group from $135.00 to $150.00 in a research note issued to investors on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the computer hardware maker’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a buy rating in a research note on Thursday, August 29th. Melius Research increased their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the stock a buy rating in a research report on Friday, June 21st. Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the company a buy rating in a research report on Thursday, August 29th. Finally, Citigroup increased their price target on NVIDIA from $126.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of Moderate Buy and a consensus target price of $142.46.

NVIDIA Trading Up 2.4 %

Shares of NASDAQ NVDA opened at $138.07 on Friday. The stock has a market cap of $3.40 trillion, a P/E ratio of 80.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The firm has a 50 day moving average price of $119.30 and a two-hundred day moving average price of $111.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, equities analysts forecast that NVIDIA will post 2.65 EPS for the current year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the completion of the transaction, the chief executive officer now owns 78,654,995 shares in the company, valued at $9,373,315,754.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,236,270 shares of company stock valued at $376,316,727. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several large investors have recently modified their holdings of NVDA. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC raised its holdings in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC lifted its position in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC increased its position in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the period. Finally, M. Kraus & Co raised its stake in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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.