Westpark Capital Raises NVIDIA (NASDAQ:NVDA) Price Target to $165.00

NVIDIA (NASDAQ:NVDA) had its price objective lifted by Westpark Capital from $127.50 to $165.00 in a research report report published on Thursday, Benzinga reports. Westpark Capital currently has a buy rating on the computer hardware maker’s stock.

Other equities analysts have also recently issued reports about the stock. Tigress Financial boosted their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a buy rating in a report on Tuesday, June 18th. Loop Capital reaffirmed a buy rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Piper Sandler raised their price target on NVIDIA from $120.00 to $140.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Susquehanna boosted their price target on NVIDIA from $120.00 to $145.00 and gave the company a positive rating in a research note on Monday, June 10th. Finally, Morgan Stanley raised their price objective on shares of NVIDIA from $116.00 to $144.00 and gave the company an overweight rating in a research report on Monday, July 1st. Five equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $142.10.

NVIDIA Stock Up 1.5 %

Shares of NVIDIA stock opened at $119.37 on Thursday. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a market cap of $2.93 trillion, a P/E ratio of 69.81, a P/E/G ratio of 1.24 and a beta of 1.68. The company has a current ratio of 4.27, a quick ratio of 3.14 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $120.10 and a 200 day moving average price of $103.55.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company 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 firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, analysts expect that NVIDIA will post 2.6 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid 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 is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has authorized a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the transaction, the chief executive officer now owns 76,614,995 shares in the company, valued at $8,031,549,925.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the transaction, the chief executive officer now directly 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 have sold a total of 3,932,333 shares of company stock valued at $589,034,302 over the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

Hedge funds have recently modified their holdings of the company. Baader Bank Aktiengesellschaft raised its position in NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares during the last quarter. Wealthspire Advisors LLC lifted its position in NVIDIA by 16.3% during the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after buying an additional 1,724 shares in the last quarter. Shared Vision Wealth Group LLC bought a new stake in NVIDIA during the 4th quarter worth about $269,000. Grand Alliance Asset Management Ltd acquired a new stake in NVIDIA in the 4th quarter valued at about $29,961,000. Finally, OMNI 360 Wealth Inc. bought a new position in shares of NVIDIA in the fourth quarter worth about $240,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.