NVIDIA (NASDAQ:NVDA) Given New $160.00 Price Target at Barclays

NVIDIA (NASDAQ:NVDA) had its price objective increased by Barclays from $145.00 to $160.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. Barclays currently has an overweight rating on the computer hardware maker’s stock.

Several other brokerages have also recently issued reports on NVDA. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Mizuho boosted their target price on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer boosted their target price on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Trading Down 2.1 %

Shares of NASDAQ:NVDA traded down $3.11 during midday trading on Thursday, reaching $143.56. 83,554,206 shares of the company’s stock were exchanged, compared to its average volume of 396,215,688. The firm’s 50 day simple moving average is $133.55 and its two-hundred day simple moving average is $121.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market cap of $3.52 trillion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. As a group, sell-side analysts forecast that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in 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 leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Hedge funds have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. Institutional investors 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.