NVIDIA (NASDAQ:NVDA) Price Target Raised to $200.00

NVIDIA (NASDAQ:NVDA) had its price objective raised by Bank of America from $190.00 to $200.00 in a research report sent to investors on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the computer hardware maker’s stock.

A number of other brokerages have also weighed in on NVDA. Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Citigroup lifted their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.62.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $124.81 on Thursday. NVIDIA has a one year low of $75.61 and a one year high of $153.13. The business’s 50-day simple moving average is $134.19 and its 200 day simple moving average is $132.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.05 trillion, a P/E ratio of 49.12, a PEG ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Palisade Asset Management LLC grew its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares in the last quarter. Blue Square Asset Management LLC grew its holdings in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares in the last quarter. Narwhal Capital Management grew its holdings in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares in the last quarter. Unique Wealth LLC grew its holdings in shares of NVIDIA by 10.0% during the fourth quarter. Unique Wealth LLC now owns 37,629 shares of the computer hardware maker’s stock valued at $5,053,000 after buying an additional 3,428 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. grew its holdings in shares of NVIDIA by 46.7% during the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after buying an additional 5,360 shares in the last quarter. 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.