NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,288.00 by Analysts at Truist Financial

NVIDIA (NASDAQ:NVDA) had its price target raised by Truist Financial from $1,177.00 to $1,288.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other research reports. Needham & Company LLC boosted their target price on shares of NVIDIA from $850.00 to $1,200.00 and gave the company a buy rating in a report on Thursday. Robert W. Baird upped their price objective on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an outperform rating in a report on Monday. TD Cowen lifted their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company a buy rating in a report on Thursday. Citigroup boosted their price target on NVIDIA from $820.00 to $1,030.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus raised their price objective on NVIDIA from $910.00 to $1,085.00 and gave the company a buy rating in a research report on Monday. Four equities 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 stock. According to MarketBeat, NVIDIA currently has an average rating of Moderate Buy and a consensus price target of $1,125.95.

NVIDIA Stock Up 9.3 %

Shares of NVIDIA stock opened at $1,037.99 on Thursday. The company’s fifty day simple moving average is $889.46 and its two-hundred day simple moving average is $698.74. NVIDIA has a 12-month low of $298.06 and a 12-month high of $1,063.20. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.55 trillion, a P/E ratio of 60.70, a PEG ratio of 1.32 and a beta of 1.75.

NVIDIA shares are scheduled to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be payable 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 earnings per share for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The firm 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 business’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. Research analysts anticipate that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.04%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is presently 0.94%.

Insider Activity

In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,278 shares of company stock valued at $44,714,198. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA in the fourth quarter worth about $28,000. Criterion Capital Advisors LLC bought a new position in NVIDIA during the 4th quarter worth about $28,000. Finally, Your Advocates Ltd. LLP purchased a new position in NVIDIA during the 3rd quarter valued at about $30,000. Institutional investors own 65.27% of the company’s stock.

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.