NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,150.00

NVIDIA (NASDAQ:NVDA) had its price target upped by JPMorgan Chase & Co. from $850.00 to $1,150.00 in a report released on Thursday morning, Marketbeat reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on NVIDIA from $970.00 to $1,150.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. Piper Sandler upped their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an overweight rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on NVIDIA from $1,100.00 to $1,200.00 and gave the company a buy rating in a research report on Thursday. Cantor Fitzgerald reiterated an overweight rating and issued a $900.00 target price on shares of NVIDIA in a research note on Monday, March 4th. Finally, DA Davidson raised their target price on NVIDIA from $410.00 to $620.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of Moderate Buy and a consensus target price of $1,123.49.

NVIDIA Price Performance

NVIDIA stock opened at $1,064.69 on Thursday. NVIDIA has a 1 year low of $366.35 and a 1 year high of $1,064.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. The firm has a 50 day moving average price of $893.19 and a 200 day moving average price of $704.65. The company has a market cap of $2.62 trillion, a price-to-earnings ratio of 89.17, a PEG ratio of 1.45 and a beta of 1.75.

NVIDIA’s stock is scheduled to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same period last year, the company posted $0.88 EPS. The business’s quarterly revenue was up 262.1% on a year-over-year basis. Sell-side analysts predict that NVIDIA will post 23.18 earnings per share for the current year.

NVIDIA Increases Dividend

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

Insider Activity

In related news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,278 shares of company stock valued at $44,714,198. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Advisor Networks LLC boosted its stake in NVIDIA by 8.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock valued at $307,055,000 after purchasing an additional 25,930 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of NVIDIA by 107.2% in the first quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock valued at $204,988,000 after buying an additional 117,384 shares during the period. Cetera Investment Advisers lifted its holdings in shares of NVIDIA by 193.7% in the first quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock valued at $614,955,000 after buying an additional 448,841 shares during the period. Invst LLC boosted its stake in NVIDIA by 67.6% during the first quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock valued at $4,547,000 after buying an additional 2,029 shares in the last quarter. Finally, Dodds Wealth LLC grew its holdings in NVIDIA by 10.7% during the first quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock worth $861,000 after acquiring an additional 92 shares during the period. 65.27% of the stock is currently owned by institutional investors.

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.