Wolfe Research Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,250.00

NVIDIA (NASDAQ:NVDA) had its target price increased by Wolfe Research from $1,200.00 to $1,250.00 in a research note released on Thursday morning, MarketBeat.com reports. They currently have an outperform rating on the computer hardware maker’s stock.

Several other research analysts also recently weighed in on NVDA. Stifel Nicolaus upped their price target on NVIDIA from $910.00 to $1,085.00 and gave the stock a buy rating in a research note on Monday, May 20th. Loop Capital started coverage on shares of NVIDIA in a research report on Friday, February 16th. They set a buy rating and a $1,200.00 target price for the company. Piper Sandler Companies lifted their price target on shares of NVIDIA to $850.00 and gave the company an overweight rating in a report on Friday, February 16th. Citigroup increased their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a buy rating in a report on Wednesday, March 20th. Finally, Craig Hallum boosted their target price on NVIDIA from $700.00 to $850.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Trading Up 2.6 %

Shares of NVDA stock opened at $1,064.69 on Thursday. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. NVIDIA has a 12-month low of $366.35 and a 12-month high of $1,064.75. The stock has a market capitalization of $2.62 trillion, a P/E ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. The firm’s 50 day moving average is $893.19 and its 200 day moving average is $704.65.

Shares of NVIDIA are set to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.14 by $0.98. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. Research analysts expect that NVIDIA will post 23.18 earnings per share for the current year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is 1.34%.

Insider Buying and Selling at NVIDIA

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

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bogart Wealth LLC grew its stake in NVIDIA by 1,190.9% during the 3rd quarter. Bogart Wealth LLC now owns 9,617 shares of the computer hardware maker’s stock worth $4,183,000 after buying an additional 8,872 shares during the last quarter. RFP Financial Group LLC boosted its holdings in NVIDIA by 9.2% in the third quarter. RFP Financial Group LLC now owns 1,183 shares of the computer hardware maker’s stock worth $515,000 after acquiring an additional 100 shares in the last quarter. Pathway Financial Advisors LLC grew its stake in shares of NVIDIA by 6.8% during the third quarter. Pathway Financial Advisors LLC now owns 2,357 shares of the computer hardware maker’s stock worth $1,025,000 after acquiring an additional 150 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of NVIDIA during the third quarter valued at about $12,621,000. Finally, PayPay Securities Corp raised its position in shares of NVIDIA by 24.8% in the 3rd quarter. PayPay Securities Corp now owns 176 shares of the computer hardware maker’s stock valued at $77,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other 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.