NVIDIA (NASDAQ:NVDA - Free Report) had its target price raised by Mizuho from $165.00 to $175.00 in a report published on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the computer hardware maker's stock.
A number of other analysts also recently weighed in on the company. The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday. Wedbush reissued an "outperform" rating and set a $160.00 price objective (up from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. Finally, Oppenheimer reissued an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $160.82.
Check Out Our Latest Report on NVIDIA
NVIDIA Price Performance
Shares of NASDAQ:NVDA traded up $0.82 on Thursday, hitting $146.71. The company's stock had a trading volume of 368,478,266 shares, compared to its average volume of 397,646,125. The company has a market capitalization of $3.60 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a 50-day simple moving average of $133.55 and a 200 day simple moving average of $121.72. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. NVIDIA's quarterly revenue was up 93.6% on a year-over-year basis. Sell-side analysts forecast that NVIDIA will post 2.68 EPS for the current fiscal year.
NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. 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%.
Insider Buying and Selling at NVIDIA
In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company's stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company's stock, valued at $577,611,810.26. The trade was a 1.33 % 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 valued at $254,784,327 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.
Institutional Trading of NVIDIA
Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker's stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Empowered Funds LLC raised 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 purchasing an additional 13,315 shares during the period. Allen Investment Management LLC lifted its stake in shares of NVIDIA by 20.2% in the 1st quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker's stock valued at $59,380,000 after purchasing an additional 11,047 shares during the last quarter. Monolith Management Ltd boosted its holdings in shares of NVIDIA by 266.8% in the 1st quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker's stock worth $63,475,000 after purchasing an additional 51,100 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its position in shares of NVIDIA by 155.3% during the 1st 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 purchasing an additional 5,900 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.
About NVIDIA
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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.
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