Wolfe Research Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,250.00

NVIDIA (NASDAQ:NVDA) had its price objective increased by Wolfe Research from $1,200.00 to $1,250.00 in a research note released on Thursday morning, MarketBeat reports. They currently have an outperform rating on the computer hardware maker’s stock.

A number of other research firms have also issued reports on NVDA. Stifel Nicolaus upped their target price on NVIDIA from $910.00 to $1,085.00 and gave the company a buy rating in a research note on Monday, May 20th. Morgan Stanley upped their target price on NVIDIA from $795.00 to $1,000.00 and gave the company an overweight rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on NVIDIA from $970.00 to $1,150.00 and gave the company an overweight rating in a research note on Tuesday, May 14th. HSBC upped their target price on NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research note on Friday, May 10th. Finally, Tigress Financial increased their price target on NVIDIA from $790.00 to $985.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $1,064.69 on Thursday. The business’s 50 day simple moving average is $893.19 and its 200-day simple moving average is $706.34. The firm has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67. NVIDIA has a 12 month low of $366.35 and a 12 month high of $1,064.75.

NVIDIA shares are scheduled to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The company’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA will post 23.6 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared 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 an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio is currently 0.94%.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. In the last three months, insiders sold 46,278 shares of company stock worth $40,710,498. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Large investors have recently modified their holdings of the stock. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA during the first quarter worth about $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA during the first quarter worth about $45,000. Finally, Coston McIsaac & Partners lifted its position in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. 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.