NVIDIA (NASDAQ:NVDA) Given New $170.00 Price Target at Tigress Financial

NVIDIA (NASDAQ:NVDA) had its price target lifted by Tigress Financial from $98.50 to $170.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Mizuho increased their price target on NVIDIA from $118.00 to $127.50 and gave the stock a buy rating in a research note on Tuesday, June 4th. Rosenblatt Securities upped their target price on NVIDIA from $140.00 to $200.00 and gave the stock a buy rating in a research report on Tuesday. Susquehanna upped their target price on NVIDIA from $120.00 to $145.00 and gave the stock a positive rating in a research report on Monday, June 10th. Bank of America increased their price objective on NVIDIA from $132.00 to $150.00 and gave the company a buy rating in a report on Monday, June 3rd. Finally, Truist Financial raised their target price on NVIDIA from $117.70 to $128.80 and gave the company a buy rating in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and an average target price of $120.84.

NVIDIA Stock Performance

Shares of NVDA opened at $135.58 on Tuesday. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.34 trillion, a price-to-earnings ratio of 79.29, a PEG ratio of 1.39 and a beta of 1.69. NVIDIA has a 52-week low of $39.23 and a 52-week high of $136.33. The business’s 50 day moving average is $99.71 and its two-hundred day moving average is $79.24.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s revenue was up 262.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Analysts forecast that NVIDIA will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.30%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 1,280 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $94.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now directly owns 20,550 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,417,870 shares of company stock worth $263,658,838. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the period. Norges Bank acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $14,606,369,000. Northern Trust Corp raised its position in shares of NVIDIA by 3.6% in the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NVIDIA by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after buying an additional 388,851 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.