NVIDIA (NASDAQ:NVDA) Given New $180.00 Price Target at Stifel Nicolaus

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Stifel Nicolaus from $165.00 to $180.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group upped their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. HSBC increased their target price on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Finally, Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $154.63.

NVIDIA Stock Up 4.9 %

Shares of NVIDIA stock opened at $147.01 on Tuesday. NVIDIA has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 69.02, a PEG ratio of 1.49 and a beta of 1.66. The business’s 50 day simple moving average is $132.42 and its 200-day simple moving average is $121.37.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Equities research analysts forecast that NVIDIA will post 2.67 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. McIlrath & Eck LLC increased its position in shares of NVIDIA by 18.7% in the third quarter. McIlrath & Eck LLC now owns 20,365 shares of the computer hardware maker’s stock worth $2,473,000 after purchasing an additional 3,214 shares during the period. Discipline Wealth Solutions LLC bought a new position in NVIDIA in the 3rd quarter valued at about $792,000. M&T Bank Corp raised its position in shares of NVIDIA by 5.1% in the 3rd quarter. M&T Bank Corp now owns 3,858,775 shares of the computer hardware maker’s stock valued at $468,609,000 after buying an additional 186,652 shares in the last quarter. Unigestion Holding SA lifted its holdings in shares of NVIDIA by 928.9% during the 3rd quarter. Unigestion Holding SA now owns 67,400 shares of the computer hardware maker’s stock worth $8,185,000 after acquiring an additional 60,849 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in shares of NVIDIA by 4.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 119,564 shares of the computer hardware maker’s stock worth $14,537,000 after acquiring an additional 5,568 shares in the last quarter. 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.