Evercore ISI Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,310.00

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Evercore ISI from $1,160.00 to $1,310.00 in a report released on Thursday, MarketBeat reports. The firm currently has an outperform rating on the computer hardware maker’s stock.

Other analysts also recently issued research reports about the stock. TD Cowen lifted their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an outperform rating in a report on Thursday, March 21st. Citigroup boosted their price objective on NVIDIA from $820.00 to $1,030.00 and gave the company a buy rating in a report on Wednesday, March 20th. Truist Financial raised their target price on NVIDIA from $911.00 to $1,177.00 and gave the company a buy rating in a report on Monday, March 18th. Stifel Nicolaus boosted their price target on shares of NVIDIA from $910.00 to $1,085.00 and gave the stock a buy rating in a research note on Monday, May 20th. Finally, HSBC raised their price objective on shares of NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Price Performance

NASDAQ:NVDA opened at $1,064.69 on Thursday. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The stock’s fifty day moving average is $893.19 and its two-hundred day moving average is $704.65. The company has a market capitalization of $2.62 trillion, a P/E ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA’s stock is set to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. Equities analysts expect that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.04%. The ex-dividend date is Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is 1.34%.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now owns 1,107,583 shares in the company, valued at $945,366,393.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 51,278 shares of company stock worth $44,714,198 in the last three months. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Norges Bank acquired a new position in NVIDIA in the 4th quarter valued at $14,606,369,000. Northern Trust Corp lifted its stake in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after purchasing an additional 910,009 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NVIDIA by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the period. 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.