NVIDIA (NASDAQ:NVDA) Given New $185.00 Price Target at Wells Fargo & Company

NVIDIA (NASDAQ:NVDA) had its target price upped by Wells Fargo & Company from $165.00 to $185.00 in a research report report published on Thursday, Marketbeat reports. They currently have an overweight rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Citigroup boosted their target price on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Redburn Atlantic started coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Bank of America upped their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $160.82.

NVIDIA Stock Performance

NVIDIA stock traded down $3.11 during midday trading on Thursday, reaching $143.56. 83,554,206 shares of the stock traded hands, compared to its average volume of 396,215,688. The firm has a fifty day moving average price of $133.55 and a two-hundred day moving average price of $121.72. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, equities research analysts forecast that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.88%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. lifted its stake in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares during the period. Empowered Funds LLC lifted its position in NVIDIA by 23.0% during the first quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock valued at $64,389,000 after buying an additional 13,315 shares during the period. Allen Investment Management LLC lifted its position in NVIDIA by 20.2% during the first quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock valued at $59,380,000 after buying an additional 11,047 shares during the period. Monolith Management Ltd lifted its position in NVIDIA by 266.8% during the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock valued at $63,475,000 after buying an additional 51,100 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its position in NVIDIA by 155.3% during the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock valued at $8,765,000 after buying an additional 5,900 shares during the period. 65.27% of the stock is owned by hedge funds and other 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.