Robert W. Baird Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective upped by Robert W. Baird from $150.00 to $190.00 in a research note published on Thursday morning, MarketBeat.com reports. Robert W. Baird currently has an outperform rating on the computer hardware maker’s stock.

Several other research firms have also recently weighed in on NVDA. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Citigroup boosted their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Mizuho upped their target price on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Four equities research 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’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.95 on Thursday. The firm has a market cap 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 twelve month low of $45.01 and a twelve month high of $152.89. 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 company has a 50-day moving average of $134.01 and a 200-day moving average of $122.51.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Analysts forecast that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Stock Yards Bank & Trust Co. lifted its position in NVIDIA by 1.1% during 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 acquiring an additional 3,586 shares during the last quarter. Capstone Capital LLC lifted its holdings in 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 purchasing an additional 815 shares during the last quarter. Eaton Financial Holdings Company LLC bought a new stake in NVIDIA in the 3rd quarter valued at $3,894,000. Fulcrum Equity Management increased its position in NVIDIA by 20.4% during the 3rd quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock worth $1,453,000 after buying an additional 2,031 shares during the period. Finally, Tudor Financial Inc. acquired a new stake in shares of NVIDIA during the third quarter worth $1,440,000. 65.27% of the stock is owned by 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.