NVIDIA (NASDAQ:NVDA) Price Target Raised to $150.00

NVIDIA (NASDAQ:NVDA) had its price objective upped by Citigroup from $126.00 to $150.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Tigress Financial raised their target price on NVIDIA from $98.50 to $170.00 and gave the stock a buy rating in a research note on Tuesday, June 18th. Stifel Nicolaus boosted their price objective on shares of NVIDIA from $91.00 to $108.50 and gave the company a buy rating in a report on Monday, May 20th. Craig Hallum increased their target price on shares of NVIDIA from $85.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. StockNews.com downgraded shares of NVIDIA from a strong-buy rating to a hold rating in a research note on Tuesday, June 18th. Finally, Wedbush increased their price objective on shares of NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $125.66.

NVIDIA Price Performance

NASDAQ:NVDA opened at $123.54 on Wednesday. The stock has a 50 day moving average price of $106.24 and a 200 day moving average price of $83.48. The stock has a market cap of $3.04 trillion, a PE ratio of 72.25, a P/E/G ratio of 1.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. NVIDIA has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. 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 firm earned $0.09 EPS. The company’s quarterly revenue was up 262.1% compared to the same quarter last year. Equities research analysts expect that NVIDIA will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were paid a $0.10 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is currently 2.34%.

Insider Activity

In other news, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 10,521,330 shares in the company, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark A. Stevens sold 227,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 10,521,330 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,866,590 shares of company stock valued at $324,317,704. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA during the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth about $28,000. Finally, HBC Financial Services PLLC purchased a new stake in shares of NVIDIA in the first quarter valued at about $30,000. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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.