NVIDIA (NASDAQ:NVDA) Price Target Increased to $150.00 by Analysts at Robert W. Baird

NVIDIA (NASDAQ:NVDA) had its target price lifted by Robert W. Baird from $120.00 to $150.00 in a research report report published on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the computer hardware maker’s stock.

Several other brokerages have also recently weighed in on NVDA. Piper Sandler upped their price target on NVIDIA from $120.00 to $140.00 and gave the company an overweight rating in a research report on Monday, July 22nd. Morgan Stanley upped their target price on shares of NVIDIA from $116.00 to $144.00 and gave the stock an overweight rating in a report on Monday, July 1st. UBS Group raised their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a buy rating in a report on Monday, July 8th. Benchmark upped their price target on shares of NVIDIA from $135.00 to $170.00 and gave the stock a buy rating in a report on Friday, July 12th. Finally, Citigroup lifted their price objective on NVIDIA from $126.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $142.10.

NVIDIA Stock Performance

Shares of NVDA stock opened at $119.37 on Thursday. The firm’s 50 day moving average is $120.10 and its 200 day moving average is $103.55. The stock has a market capitalization of $2.93 trillion, a P/E ratio of 69.81, a PEG ratio of 1.24 and a beta of 1.68. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.14 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, sell-side analysts anticipate that NVIDIA will post 2.6 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now directly owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Tench Coxe sold 100,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The disclosure for this sale can be found here. Insiders sold 3,932,333 shares of company stock valued at $589,034,302 in the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVDA. Baader Bank Aktiengesellschaft lifted its position in NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after buying an additional 11,445 shares during the period. Wealthspire Advisors LLC increased its stake in shares of NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after acquiring an additional 1,724 shares in the last quarter. Shared Vision Wealth Group LLC purchased a new position in NVIDIA during the 4th quarter valued at about $269,000. Grand Alliance Asset Management Ltd bought a new stake in NVIDIA during the fourth quarter worth about $29,961,000. Finally, OMNI 360 Wealth Inc. purchased a new stake in NVIDIA in the fourth quarter worth about $240,000. 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.