NVIDIA Co. (NASDAQ:NVDA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NVIDIA Co. (NASDAQ:NVDAGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the forty-three ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $120.84.

Several brokerages recently issued reports on NVDA. Needham & Company LLC increased their price objective on NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays dropped their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Wedbush raised their price target on NVIDIA from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Wolfe Research upped their price objective on shares of NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Finally, Rosenblatt Securities raised their target price on shares of NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday.

Read Our Latest Report on NVIDIA

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at approximately $10,474,135,774.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the transaction, the chief executive officer now owns 81,358,830 shares in the company, valued at approximately $10,474,135,774.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total value of $18,063,000.00. Following the completion of the sale, the director now owns 9,846,240 shares in the company, valued at approximately $1,185,684,220.80. The disclosure for this sale can be found here. Insiders sold 1,417,870 shares of company stock valued at $263,658,838 over the last quarter. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in the company. WealthPlan Investment Management LLC grew its stake in NVIDIA by 1,334.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 6,942 shares of the computer hardware maker’s stock valued at $3,020,000 after acquiring an additional 6,458 shares during the period. Western Wealth Management LLC increased its stake in shares of NVIDIA by 2.1% during the third quarter. Western Wealth Management LLC now owns 28,114 shares of the computer hardware maker’s stock worth $12,229,000 after purchasing an additional 567 shares in the last quarter. Eagle Strategies LLC raised its position in shares of NVIDIA by 0.3% during the 3rd quarter. Eagle Strategies LLC now owns 7,324 shares of the computer hardware maker’s stock worth $3,186,000 after purchasing an additional 22 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in NVIDIA in the 3rd quarter valued at about $728,543,000. Finally, Dantai Capital Ltd increased its stake in NVIDIA by 118.8% during the 3rd quarter. Dantai Capital Ltd now owns 6,810 shares of the computer hardware maker’s stock worth $2,962,000 after buying an additional 3,697 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.5 %

Shares of NVDA opened at $135.58 on Wednesday. The firm has a market capitalization of $3.34 trillion, a P/E ratio of 79.29, a P/E/G ratio of 1.39 and a beta of 1.69. NVIDIA has a 12-month low of $39.23 and a 12-month high of $136.33. The firm has a fifty day moving average price of $99.71 and a 200-day moving average price of $79.24. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Equities research analysts expect that NVIDIA will post 2.52 earnings per share for the current year.

NVIDIA Increases Dividend

The company 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 $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA Company Profile

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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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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