NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,180.00

NVIDIA (NASDAQ:NVDA) had its price target raised by Mizuho from $1,000.00 to $1,180.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Benchmark reiterated a buy rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Wednesday, March 20th. TD Cowen lifted their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Stifel Nicolaus upped their price objective on shares of NVIDIA from $910.00 to $1,085.00 and gave the stock a buy rating in a report on Monday, May 20th. Needham & Company LLC lifted their target price on shares of NVIDIA from $600.00 to $850.00 and gave the company a buy rating in a report on Thursday, February 22nd. Finally, Jefferies Financial Group initiated coverage on NVIDIA in a research report on Monday, May 13th. They issued a buy rating and a $1,200.00 price target on the stock. Five 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 stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of Moderate Buy and a consensus price target of $1,123.49.

NVIDIA Stock Up 2.6 %

Shares of NVIDIA stock opened at $1,064.69 on Thursday. 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 12-month low of $366.35 and a 12-month high of $1,064.75. The company has a market cap of $2.62 trillion, a P/E ratio of 89.17, a PEG ratio of 1.45 and a beta of 1.75. The company’s fifty day simple moving average is $893.19 and its two-hundred day simple moving average is $704.65.

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

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 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 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 $0.88 earnings per share. NVIDIA’s quarterly revenue was up 262.1% compared to the same quarter last year. Research analysts anticipate that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The business also recently announced 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 is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,278 shares of company stock worth $44,714,198. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at approximately $14,606,369,000. International Assets Investment Management LLC grew its stake in NVIDIA by 54,019.5% during 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 acquiring an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. increased its holdings in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of NVIDIA during the 1st quarter valued at about $4,826,280,000. Finally, Swedbank AB purchased a new position in shares of NVIDIA during the first quarter valued at about $3,922,733,000. Institutional investors own 65.27% of the company’s stock.

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.