NVIDIA (NASDAQ:NVDA) Price Target Raised to $220.00

NVIDIA (NASDAQ:NVDA) had its target price hoisted by Wells Fargo & Company from $185.00 to $220.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an “outperform” rating in a report on Tuesday, July 15th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Truist Financial boosted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Raymond James Financial boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Finally, Jefferies Financial Group boosted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.97.

NVIDIA Price Performance

NASDAQ:NVDA opened at $181.62 on Monday. 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 firm has a market cap of $4.43 trillion, a price-to-earnings ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The company has a 50 day moving average price of $162.34 and a 200-day moving average price of $134.56. NVIDIA has a 1-year low of $86.62 and a 1-year high of $184.48.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the transaction, the chief executive officer owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,837,440 shares of company stock worth $889,404,782 over the last 90 days. Insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of the business. Morton Brown Family Wealth LLC grew its position in shares of NVIDIA by 1.5% during the second quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock worth $621,000 after acquiring an additional 58 shares during the last quarter. Roof Eidam Maycock Peralta LLC grew its position in shares of NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock worth $3,302,000 after acquiring an additional 58 shares during the last quarter. Alpha Wealth Funds LLC grew its position in shares of NVIDIA by 1.3% during the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock worth $732,000 after acquiring an additional 59 shares during the last quarter. Copia Wealth Management lifted its holdings in shares of NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after purchasing an additional 60 shares during the period. Finally, BKM Wealth Management LLC lifted its holdings in shares of NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after purchasing an additional 60 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.