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

NVIDIA (NASDAQ:NVDA) had its price target lifted by TD Cowen from $165.00 to $175.00 in a research note released on Thursday, Marketbeat Ratings reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts have also weighed in on NVDA. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Price Performance

NVDA traded down $3.11 during trading hours on Thursday, hitting $143.56. The company’s stock had a trading volume of 83,554,206 shares, compared to its average volume of 396,215,688. The business’s 50-day moving average price is $133.55 and its 200-day moving average price is $121.72. NVIDIA has a 12 month low of $45.01 and a 12 month high of $152.89. The stock has a market cap of $3.52 trillion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. 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 announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has approved a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last three months. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Hamilton Wealth LLC lifted its holdings in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the period. Poehling Capital Management INC. lifted its holdings in NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. FSA Wealth Management LLC lifted its holdings in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares during the period. Clean Yield Group lifted its holdings in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after acquiring an additional 15 shares during the period. Finally, Bell Investment Advisors Inc lifted its holdings in NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock valued at $1,092,000 after acquiring an additional 16 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.