Mizuho Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective boosted by Mizuho from $170.00 to $185.00 in a research note issued to investors on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, June 16th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.19.

NVIDIA Price Performance

NVDA opened at $159.28 on Thursday. The company’s 50 day simple moving average is $135.41 and its 200 day simple moving average is $127.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA has a 1 year low of $86.62 and a 1 year high of $160.98. The stock has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the sale, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at approximately $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock valued at $584,414,209 over the last ninety days. Corporate insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Wealth Group Ltd. raised its holdings in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA during the fourth quarter worth $972,000. Capital & Planning LLC increased its holdings in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after acquiring an additional 1,099 shares during the period. Ironwood Wealth Management LLC. increased its holdings in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after acquiring an additional 104 shares during the period. Finally, Brighton Jones LLC increased its holdings in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 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.