Barclays Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective boosted by Barclays from $170.00 to $200.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other analysts have also issued reports on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Citigroup restated a “buy” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Finally, HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.05.

NVIDIA Stock Performance

NVIDIA stock opened at $144.12 on Tuesday. NVIDIA has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. The firm’s fifty day moving average price is $124.34 and its 200 day moving average price is $126.49.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, research analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the 4th quarter valued at $40,000. Kathleen S. Wright Associates Inc. lifted its holdings in shares of NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after purchasing an additional 254 shares in the last quarter. Finally, Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter worth $50,000. 65.27% of the stock is currently 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.