NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00 at Barclays

NVIDIA (NASDAQ:NVDA) had its price target increased by Barclays from $145.00 to $160.00 in a report released on Thursday, MarketBeat reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other analysts also recently weighed in on NVDA. Benchmark upped their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.82.

NVIDIA Price Performance

NVDA stock traded down $3.11 during midday trading on Thursday, reaching $143.56. The company had a trading volume of 83,554,206 shares, compared to its average volume of 396,215,688. The company has a market capitalization of $3.52 trillion, a P/E ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89. The firm has a 50-day moving average price of $133.55 and a 200-day moving average price of $121.72.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts anticipate that NVIDIA will post 2.68 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

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

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% during the 2nd 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 in the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the 1st quarter valued at $27,000. 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.