NVIDIA’s (NVDA) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $140.00 price target on the computer hardware maker’s stock, up from their previous price target of $128.80.

A number of other equities research analysts also recently issued reports on NVDA. CICC Research started coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They set an outperform rating and a $87.00 price objective on the stock. Mizuho increased their price target on shares of NVIDIA from $118.00 to $127.50 and gave the stock a buy rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. upped their target price on NVIDIA from $85.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Raymond James boosted their price target on NVIDIA from $110.00 to $120.00 and gave the stock a strong-buy rating in a report on Thursday, May 23rd. Finally, KeyCorp raised their price objective on NVIDIA from $120.00 to $130.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of Moderate Buy and an average price target of $123.80.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $123.99 on Thursday. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 72.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a 50-day simple moving average of $104.51 and a two-hundred day simple moving average of $82.41.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Analysts forecast that NVIDIA will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 2.34%.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 completion of the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The sale was disclosed in a legal 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, June 21st. The stock was sold at an average price of $128.17, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 1,746,590 shares of company stock valued at $309,332,104 in the last three months. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

A number of large investors have recently bought and sold shares of the company. Sensible Money LLC raised its stake in NVIDIA by 41.6% in the 1st quarter. Sensible Money LLC now owns 596 shares of the computer hardware maker’s stock valued at $538,000 after acquiring an additional 175 shares during the period. HM Payson & Co. boosted its holdings in NVIDIA by 97.1% in the 1st quarter. HM Payson & Co. now owns 152,416 shares of the computer hardware maker’s stock worth $137,717,000 after buying an additional 75,086 shares during the period. Keynote Financial Services LLC purchased a new position in NVIDIA in the 1st quarter valued at approximately $262,000. Jackson Wealth Management LLC purchased a new stake in shares of NVIDIA during the first quarter worth $3,023,000. Finally, OMC Financial Services LTD bought a new stake in shares of NVIDIA during the 1st quarter valued at $25,395,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.