NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Barclays Analyst Says

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Barclays from $145.00 to $160.00 in a research note published on Thursday, Marketbeat Ratings reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other research firms have also recently weighed in on NVDA. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Benchmark upped their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Cowen raised their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NASDAQ NVDA opened at $141.95 on Thursday. 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 has a 1-year low of $45.01 and a 1-year high of $152.89. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The business’s fifty day moving average price is $134.01 and its 200-day moving average price is $122.51.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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 net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, equities analysts predict that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy 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 Announces Dividend

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

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA 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 completion of the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. 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 owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA during the first quarter valued at approximately $82,000. Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 600.0% in the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after acquiring an additional 96 shares in the last quarter. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter valued at approximately $25,000. Hedge funds and other 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.