Robert W. Baird Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price target raised by Robert W. Baird from $1,050.00 to $1,200.00 in a research note released on Monday, Marketbeat Ratings reports. They currently have an outperform rating on the computer hardware maker’s stock.

Several other analysts have also recently issued reports on the stock. Loop Capital started coverage on shares of NVIDIA in a research note on Friday, February 16th. They set a buy rating and a $1,200.00 price objective for the company. Jefferies Financial Group started coverage on NVIDIA in a report on Monday, May 13th. They issued a buy rating and a $1,200.00 price objective on the stock. TD Cowen lifted their price objective on NVIDIA from $900.00 to $1,100.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of NVIDIA from $720.00 to $850.00 and gave the stock a hold rating in a research report on Wednesday, March 20th. Finally, Wolfe Research lifted their price target on shares of NVIDIA from $630.00 to $900.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $1,002.18.

NVIDIA Stock Performance

NVIDIA stock opened at $949.50 on Monday. The stock has a fifty day moving average price of $886.29 and a 200 day moving average price of $696.36. NVIDIA has a 52 week low of $298.06 and a 52 week high of $974.00. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 79.52, a PEG ratio of 1.33 and a beta of 1.75. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The company’s quarterly revenue was up 262.1% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA will post 23.01 earnings per share 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 issued a $0.10 dividend. This is a positive change 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 payout ratio is 1.34%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s 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 directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction 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 61,278 shares of company stock worth $52,689,898 over the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA during the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Finally, Your Advocates Ltd. LLP acquired a new stake in shares of NVIDIA in the 3rd quarter worth approximately $30,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.