The Goldman Sachs Group Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price objective lifted by The Goldman Sachs Group from $1,100.00 to $1,200.00 in a report published on Thursday, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the computer hardware maker’s stock.

Several other brokerages also recently commented on NVDA. Barclays raised their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an overweight rating in a report on Monday, May 20th. Morgan Stanley raised their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an overweight rating in a report on Wednesday, April 10th. DA Davidson raised their target price on shares of NVIDIA from $410.00 to $620.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $720.00 to $850.00 and gave the stock a hold rating in a report on Wednesday, March 20th. Finally, Evercore ISI raised their target price on shares of NVIDIA from $1,160.00 to $1,310.00 and gave the stock an outperform rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of Moderate Buy and an average target price of $1,123.49.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $1,064.69 on Thursday. The company has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 62.26, a P/E/G ratio of 1.48 and a beta of 1.75. The firm’s 50 day simple moving average is $893.19 and its 200 day simple moving average is $706.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67. NVIDIA has a fifty-two week low of $366.35 and a fifty-two week high of $1,064.75.

NVIDIA shares are set to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be issued to shareholders after the market closes on Monday, June 10th.

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

NVIDIA Increases Dividend

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

Insider Activity

In other news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 11,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the completion of the sale, the director now directly owns 1,074,833 shares of the company’s stock, valued at approximately $973,422,506.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,278 shares of company stock valued at $40,710,498. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at about $14,606,369,000. International Assets Investment Management LLC raised its stake in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. raised its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Global Assets Advisory LLC acquired a new position in NVIDIA in the first quarter valued at about $4,826,280,000. Finally, Swedbank AB acquired a new position in NVIDIA in the first quarter valued at about $3,922,733,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

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.