NVIDIA (NASDAQ:NVDA) Given New $185.00 Price Target at Wells Fargo & Company

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Wells Fargo & Company from $165.00 to $185.00 in a report published on Thursday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

Several other brokerages have also recently issued reports on NVDA. Needham & Company LLC lifted their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Down 3.2 %

NASDAQ:NVDA opened at $141.95 on Thursday. The business has a fifty day moving average price of $134.01 and a 200-day moving average price of $122.51. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts forecast that NVIDIA will post 2.68 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Several large investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. raised its position in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares during the last quarter. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Legal & General Group Plc lifted its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd boosted its holdings in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares during the last quarter. Hedge funds and other institutional investors 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.