NVIDIA (NASDAQ:NVDA) Price Target Raised to $140.00

NVIDIA (NASDAQ:NVDA) had its price target lifted by Deutsche Bank Aktiengesellschaft from $115.00 to $140.00 in a research note published on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the computer hardware maker’s stock.

A number of other brokerages have also issued reports on NVDA. Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. HSBC lifted their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus increased their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday. Finally, TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

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

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following 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. The trade was a 0.16 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Hedge funds have recently modified their holdings of the company. Stock Yards Bank & Trust Co. lifted its position in NVIDIA by 1.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 330,924 shares of the computer hardware maker’s stock worth $40,187,000 after purchasing an additional 3,586 shares during the period. Capstone Capital LLC lifted its holdings in shares of NVIDIA by 27.3% during the 3rd quarter. Capstone Capital LLC now owns 3,795 shares of the computer hardware maker’s stock worth $461,000 after acquiring an additional 815 shares during the period. Eaton Financial Holdings Company LLC acquired a new stake in shares of NVIDIA during the 3rd quarter valued at about $3,894,000. Fulcrum Equity Management increased its stake in NVIDIA by 20.4% in the third quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock valued at $1,453,000 after acquiring an additional 2,031 shares during the period. Finally, Tudor Financial Inc. bought a new stake in NVIDIA in the third quarter valued at about $1,440,000. Institutional investors 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.