NVIDIA (NASDAQ:NVDA) Price Target Raised to $170.00 at Benchmark

NVIDIA (NASDAQ:NVDA) had its price objective raised by Benchmark from $135.00 to $170.00 in a research note released on Friday morning, MarketBeat.com reports. They currently have a buy rating on the computer hardware maker’s stock.

Several other research firms have also recently issued reports on NVDA. DZ Bank cut shares of NVIDIA from a buy rating to a hold rating and set a $102.50 price objective on the stock. in a research report on Friday, May 24th. Melius Research boosted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a buy rating in a research report on Friday, June 21st. KeyCorp boosted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Evercore ISI boosted their price target on shares of NVIDIA from $131.00 to $145.00 and gave the stock an outperform rating in a research report on Tuesday, June 11th. Finally, Wedbush boosted their price target on shares of NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $129.15.

NVIDIA Trading Up 1.4 %

NVIDIA stock opened at $129.24 on Friday. The stock has a market cap of $3.18 trillion, a P/E ratio of 75.58, a PEG ratio of 1.36 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76. The firm’s 50 day moving average price is $114.98 and its 200-day moving average price is $89.29.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. On average, equities analysts predict that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,744,590 shares of company stock worth $446,110,085. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after buying an additional 9 shares during the last quarter. Brooklyn FI LLC raised its holdings in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its holdings in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares during the last quarter. 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.