NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00

NVIDIA (NASDAQ:NVDA) had its price target upped by Bank of America from $150.00 to $160.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler reiterated an “overweight” rating on shares of NVIDIA in a report on Friday, April 25th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. UBS Group decreased their target price on shares of NVIDIA from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, DA Davidson reduced their price objective on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.84.

NVIDIA Stock Up 0.4%

NVIDIA stock opened at $135.40 on Wednesday. The stock has a market cap of $3.31 trillion, a P/E ratio of 53.29, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a twelve month low of $86.62 and a twelve month high of $195.95. The company’s 50-day moving average price is $112.33 and its two-hundred day moving average price is $127.06.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts expect that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the fourth quarter worth approximately $40,000. Finally, Kathleen S. Wright Associates Inc. grew its position in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after buying an additional 254 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.