NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00

NVIDIA (NASDAQ:NVDA) had its price target increased by Morgan Stanley from $150.00 to $160.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

Several other equities research analysts also recently weighed in on NVDA. Raymond James increased their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.48.

NVIDIA Trading Down 1.4 %

Shares of NVIDIA stock opened at $146.27 on Monday. The company has a fifty day simple moving average of $128.59 and a 200-day simple moving average of $119.33. NVIDIA has a 12-month low of $45.01 and a 12-month high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.59 trillion, a price-to-earnings ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Vanguard Group Inc. boosted its position in 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 purchasing an additional 8,828,050 shares during the period. Legal & General Group Plc boosted its position in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after buying an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.