NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,100.00 at Argus

NVIDIA (NASDAQ:NVDA) had its price target raised by Argus from $950.00 to $1,100.00 in a research report report published on Thursday morning, Marketbeat reports. Argus currently has a buy rating on the computer hardware maker’s stock.

A number of other equities analysts also recently weighed in on NVDA. Piper Sandler upped their target price on NVIDIA from $1,050.00 to $1,200.00 and gave the company an overweight rating in a report on Thursday. Citigroup upped their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a buy rating in a research note on Wednesday, March 20th. HSBC lifted their target price on shares of NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research note on Friday, May 10th. Wells Fargo & Company upped their price target on shares of NVIDIA from $970.00 to $1,150.00 and gave the stock an overweight rating in a research note on Tuesday, May 14th. Finally, Barclays lifted their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company an overweight rating in a research report on Monday, May 20th. Five equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $1,123.49.

NVIDIA Stock Up 2.6 %

Shares of NASDAQ:NVDA opened at $1,064.69 on Thursday. The firm has a 50 day simple moving average of $893.19 and a 200 day simple moving average of $706.34. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. The company has a market cap of $2.62 trillion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75.

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

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, research analysts expect that NVIDIA will post 23.6 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is presently 0.94%.

Insider Activity

In related news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at $945,366,393.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of NVIDIA stock in a transaction on Monday, March 4th. The stock was 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 approximately $945,366,393.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,278 shares of company stock valued at $40,710,498. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Norges Bank bought a new position in NVIDIA during the fourth quarter worth about $14,606,369,000. International Assets Investment Management LLC raised its holdings in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the period. Global Assets Advisory LLC bought a new position in shares of NVIDIA during the 1st quarter worth approximately $4,826,280,000. Finally, Swedbank AB acquired a new stake in NVIDIA in the 1st quarter valued at $3,922,733,000. 65.27% of the stock is owned by institutional investors.

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.