Truist Financial Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price target lifted by Truist Financial from $148.00 to $167.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

A number of other research analysts also recently commented on NVDA. Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America boosted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Finally, UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.63.

NVIDIA Stock Up 4.9 %

NVDA stock opened at $147.01 on Tuesday. The company has a market capitalization of $3.61 trillion, a P/E ratio of 69.02, a PEG ratio of 1.49 and a beta of 1.66. The firm has a 50 day simple moving average of $132.42 and a 200-day simple moving average of $121.37. 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 twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the business earned $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 predict that NVIDIA will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on 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 directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in the company. Hamilton Wealth LLC raised its holdings in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares in the last quarter. Poehling Capital Management INC. raised its stake in shares of NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares in the last quarter. FSA Wealth Management LLC lifted its holdings in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after purchasing an additional 14 shares during the last quarter. Clean Yield Group boosted its position in NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after purchasing an additional 15 shares during the period. Finally, Bell Investment Advisors Inc grew its holdings in NVIDIA by 1.3% during the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock valued at $1,092,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds 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.