NVIDIA (NASDAQ:NVDA) Price Target Raised to $185.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by UBS Group from $150.00 to $185.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

Several other equities research analysts also recently issued reports on the company. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial raised their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $147.48.

NVIDIA Trading Down 1.4 %

NASDAQ NVDA opened at $146.27 on Monday. The company has a market cap of $3.59 trillion, a PE ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA has a 12 month low of $45.01 and a 12 month high of $149.77. The stock has a 50 day moving average of $128.59 and a 200-day moving average of $119.33.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was 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 through the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was 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 through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at approximately $27,000. 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.