NVIDIA (NASDAQ:NVDA) Given New $175.00 Price Target at Wedbush

NVIDIA (NASDAQ:NVDAGet Rating) had its target price lifted by Wedbush from $160.00 to $175.00 in a research report sent to investors on Thursday morning, The Fly reports. Wedbush currently has a neutral rating on the computer hardware maker’s stock.

Several other brokerages have also issued reports on NVDA. Oppenheimer decreased their target price on NVIDIA from $250.00 to $225.00 and set an outperform rating for the company in a research report on Friday, November 11th. Jefferies Financial Group cut their price target on NVIDIA from $370.00 to $280.00 in a research note on Thursday, August 25th. Needham & Company LLC cut their price target on NVIDIA from $170.00 to $155.00 in a research note on Tuesday, October 25th. Daiwa Capital Markets downgraded NVIDIA from an outperform rating to a neutral rating and cut their price target for the stock from $215.00 to $133.00 in a research note on Friday, September 2nd. Finally, Barclays cut their price target on NVIDIA from $190.00 to $140.00 and set an overweight rating for the company in a research note on Monday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three 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 target price of $210.21.

NVIDIA Trading Down 1.7 %

Shares of NVIDIA stock opened at $154.09 on Thursday. NVIDIA has a 1 year low of $108.13 and a 1 year high of $346.47. The firm has a market cap of $383.68 billion, a PE ratio of 65.57, a P/E/G ratio of 5.24 and a beta of 1.70. The stock has a fifty day moving average price of $132.89 and a 200-day moving average price of $156.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.39 and a quick ratio of 3.11.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its earnings results on Wednesday, November 16th. The computer hardware maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.13). NVIDIA had a net margin of 20.85% and a return on equity of 30.75%. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA will post 2.44 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. NVIDIA’s dividend payout ratio is 6.81%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 87,500 shares of the firm’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the transaction, the director now directly owns 2,310,193 shares of the company’s stock, valued at approximately $276,414,592.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 87,500 shares of NVIDIA stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $119.65, for a total value of $10,469,375.00. Following the transaction, the director now directly owns 2,310,193 shares of the company’s stock, valued at approximately $276,414,592.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 85,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $116.49, for a total value of $9,901,650.00. Following the completion of the transaction, the director now directly owns 2,397,693 shares in the company, valued at $279,307,257.57. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently bought and sold shares of the stock. Roble Belko & Company Inc boosted its position in shares of NVIDIA by 550.0% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock valued at $28,000 after purchasing an additional 88 shares in the last quarter. Clear Perspectives Financial Planning LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $28,000. TFO TDC LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $28,000. Tortoise Investment Management LLC boosted its position in shares of NVIDIA by 40.8% during the second quarter. Tortoise Investment Management LLC now owns 183 shares of the computer hardware maker’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of NVIDIA by 271.2% during the third quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock valued at $30,000 after purchasing an additional 179 shares in the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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