NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,300.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by KeyCorp from $1,200.00 to $1,300.00 in a report issued on Thursday, MarketBeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

Several other research firms have also issued reports on NVDA. Loop Capital began coverage on NVIDIA in a research report on Friday, February 16th. They issued a buy rating and a $1,200.00 price target for the company. Jefferies Financial Group began coverage on NVIDIA in a research report on Monday, May 13th. They issued a buy rating and a $1,200.00 price target for the company. The Goldman Sachs Group lifted their price target on NVIDIA from $1,000.00 to $1,100.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Evercore ISI started coverage on NVIDIA in a research report on Tuesday, April 16th. They issued an outperform rating and a $1,160.00 price target for the company. Finally, Rosenblatt Securities reissued a buy rating and issued a $1,400.00 target price on shares of NVIDIA in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Stock Performance

Shares of NVDA stock opened at $1,064.69 on Thursday. NVIDIA has a 12 month low of $366.35 and a 12 month high of $1,064.75. The stock has a market cap of $2.62 trillion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average price is $893.19 and its 200-day moving average price is $706.34.

Shares of NVIDIA are going to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be distributed to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities analysts expect that NVIDIA will post 23.6 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 0.94%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 46,278 shares of company stock worth $40,710,498 in the last three months. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Cetera Advisor Networks LLC raised its holdings in shares of NVIDIA by 8.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock worth $307,055,000 after acquiring an additional 25,930 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of NVIDIA by 107.2% during the 1st quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock worth $204,988,000 after acquiring an additional 117,384 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of NVIDIA by 193.7% during the 1st quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock worth $614,955,000 after acquiring an additional 448,841 shares in the last quarter. Invst LLC raised its holdings in shares of NVIDIA by 67.6% during the 1st quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock worth $4,547,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Dodds Wealth LLC raised its holdings in shares of NVIDIA by 10.7% during the 1st quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock worth $861,000 after acquiring an additional 92 shares in the last quarter. 65.27% of the stock is currently owned by 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.