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

NVIDIA (NASDAQ:NVDAFree Report) had its target price raised by Wedbush from $230.00 to $300.00 in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of NVIDIA in a report on Thursday, February 26th. Zacks Research raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. CICC Research increased their price objective on NVIDIA from $228.00 to $240.60 and gave the company an “outperform” rating in a report on Friday, February 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $265.00 target price on shares of NVIDIA in a report on Thursday, February 26th. Finally, Citic Securities increased their price target on shares of NVIDIA from $237.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $273.41.

View Our Latest Stock Report on NVIDIA

NVIDIA Stock Down 1.3%

Shares of NASDAQ:NVDA opened at $180.05 on Tuesday. The firm has a 50 day simple moving average of $186.23 and a 200-day simple moving average of $183.88. NVIDIA has a twelve month low of $86.62 and a twelve month high of $212.19. The company has a current ratio of 3.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.38 trillion, a PE ratio of 36.74, a P/E/G ratio of 0.62 and a beta of 2.33.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The computer hardware maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.54 by $0.08. NVIDIA had a net margin of 55.60% and a return on equity of 97.37%. The firm had revenue of $68.13 billion for the quarter, compared to analyst estimates of $65.56 billion. During the same period last year, the business earned $0.89 EPS. NVIDIA’s revenue for the quarter was up 73.2% compared to the same quarter last year. On average, equities analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be 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 of this dividend is Wednesday, March 11th. NVIDIA’s dividend payout ratio is 0.82%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $180.04, for a total transaction of $36,008,000.00. Following the transaction, the executive vice president owned 3,618,547 shares of the company’s stock, valued at $651,483,201.88. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harvey C. Jones sold 250,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $177.33, for a total value of $44,332,500.00. Following the completion of the transaction, the director owned 6,933,280 shares of the company’s stock, valued at $1,229,478,542.40. The trade was a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,598,120 shares of company stock valued at $289,278,314 in the last three months. 4.17% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after buying an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE raised its stake in shares of NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after buying an additional 3,653 shares during the last quarter. Hudson Value Partners LLC boosted its position in shares of NVIDIA by 30.7% in the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after buying an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. grew its stake in NVIDIA by 15.7% in the 1st quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after acquiring an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

About NVIDIA

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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