NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,250.00 at Wells Fargo & Company

NVIDIA (NASDAQ:NVDA) had its price target upped by Wells Fargo & Company from $1,150.00 to $1,250.00 in a report released on Thursday morning, Marketbeat reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an outperform rating in a research note on Monday. Citigroup raised their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. KeyCorp boosted their price objective on shares of NVIDIA from $1,200.00 to $1,300.00 and gave the stock an overweight rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on NVIDIA from $850.00 to $1,000.00 and gave the stock a hold rating in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of NVIDIA from $910.00 to $1,085.00 and gave the stock a buy rating in a research note 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 company. Based on data from MarketBeat.com, NVIDIA has a consensus 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 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 P/E/G ratio of 1.32 and a beta of 1.75. The stock has a 50-day moving average price of $889.46 and a 200 day moving average price of $698.74. NVIDIA has a 1 year low of $298.06 and a 1 year high of $1,063.20.

NVIDIA shares are scheduled to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued 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 EPS for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 122.24%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the prior year, the business posted $0.88 EPS. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, analysts expect that NVIDIA will post 23.18 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 issued a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is 0.94%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the sale, the director now directly owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated 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 transaction, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold a total of 51,278 shares of company stock valued at $44,714,198 over the last 90 days. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 8,828,050 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth approximately $14,606,369,000. Northern Trust Corp increased its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. International Assets Investment Management LLC raised its stake in NVIDIA by 54,019.5% in the 4th 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 acquiring an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $6,728,354,000 after purchasing an additional 388,851 shares during the last quarter. Institutional investors 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.