NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,200.00 by Analysts at TD Cowen

NVIDIA (NASDAQ:NVDAFree Report) had its price objective increased by TD Cowen from $1,100.00 to $1,200.00 in a research note published on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts have also recently commented on the company. Craig Hallum lifted their target price on NVIDIA from $700.00 to $850.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Morgan Stanley lifted their price objective on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Benchmark reissued a buy rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. DA Davidson raised their price target on shares of NVIDIA from $410.00 to $620.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Finally, Mizuho upped their price objective on NVIDIA from $1,000.00 to $1,180.00 and gave the company a buy rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $1,123.49.

Read Our Latest Report on NVDA

NVIDIA Stock Performance

Shares of NVDA stock opened at $1,064.69 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67. The firm has a 50-day moving average of $893.19 and a 200-day moving average of $706.34. NVIDIA has a one year low of $366.35 and a one year high of $1,064.75. The company has a market cap of $2.62 trillion, a P/E ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75.

NVIDIA’s stock is set to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s revenue was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts forecast that NVIDIA will post 23.6 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 0.94%.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 46,278 shares of company stock valued at $40,710,498 over the last 90 days. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. Bogart Wealth LLC boosted its holdings in NVIDIA by 1,190.9% during the 3rd quarter. Bogart Wealth LLC now owns 9,617 shares of the computer hardware maker’s stock valued at $4,183,000 after acquiring an additional 8,872 shares during the period. RFP Financial Group LLC lifted its position in NVIDIA by 9.2% in the third quarter. RFP Financial Group LLC now owns 1,183 shares of the computer hardware maker’s stock valued at $515,000 after purchasing an additional 100 shares during the last quarter. Pathway Financial Advisors LLC boosted its stake in shares of NVIDIA by 6.8% during the third quarter. Pathway Financial Advisors LLC now owns 2,357 shares of the computer hardware maker’s stock valued at $1,025,000 after purchasing an additional 150 shares during the period. Eagle Global Advisors LLC bought a new position in shares of NVIDIA in the third quarter worth approximately $12,621,000. Finally, PayPay Securities Corp increased its stake in shares of NVIDIA by 24.8% in the third quarter. PayPay Securities Corp now owns 176 shares of the computer hardware maker’s stock worth $77,000 after buying an additional 35 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Company Profile

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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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