NVIDIA (NASDAQ:NVDA) Given New $1,350.00 Price Target at Jefferies Financial Group

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Jefferies Financial Group from $1,200.00 to $1,350.00 in a report issued on Thursday morning, MarketBeat.com reports. Jefferies Financial Group currently has a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Bank of America lifted their price target on shares of NVIDIA from $1,100.00 to $1,320.00 and gave the company a buy rating in a research report on Thursday. Barclays boosted their target price on NVIDIA from $850.00 to $1,100.00 and gave the company an overweight rating in a research report on Monday. UBS Group lifted their price objective on NVIDIA from $1,100.00 to $1,150.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Wedbush restated an outperform rating and set a $1,000.00 target price on shares of NVIDIA in a report on Thursday, May 16th. Finally, DA Davidson increased 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. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $1,125.95.

NVIDIA Stock Performance

NVIDIA stock opened at $1,037.99 on Thursday. The firm has a 50 day simple moving average of $889.46 and a 200-day simple moving average of $698.74. The stock has a market cap of $2.55 trillion, a price-to-earnings ratio of 60.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA has a 1-year low of $298.06 and a 1-year high of $1,063.20.

NVIDIA’s stock is 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 distributed to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted 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 company 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 122.24% and a net margin of 53.40%. The company’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, analysts expect that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently declared 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 is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 0.94%.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,278 shares of company stock valued at $44,714,198. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Norges Bank acquired a new position in NVIDIA in the fourth quarter worth approximately $14,606,369,000. Northern Trust Corp lifted its stake in NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. International Assets Investment Management LLC grew its position 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 worth $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of NVIDIA by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares during the last quarter. 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.