NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00

NVIDIA (NASDAQ:NVDA) had its price target lifted by Barclays from $160.00 to $175.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the computer hardware maker’s stock.

NVDA has been the topic of several other research reports. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $137.71 on Friday. The firm has a fifty day simple moving average of $138.99 and a two-hundred day simple moving average of $129.04. NVIDIA has a 52 week low of $56.11 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.37 trillion, a P/E ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. On average, analysts expect that NVIDIA will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. grew 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 purchasing an additional 107,169 shares during the period. Truepoint Inc. boosted 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 buying an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in 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 acquiring an additional 208,362 shares during the period. Palisade Asset Management LLC raised its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Finally, Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.