NVIDIA Co. (NASDAQ:NVDA) Receives $142.10 Consensus Target Price from Analysts

NVIDIA Co. (NASDAQ:NVDA) has earned an average rating of “Moderate Buy” from the forty-three ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $142.10.

Several research firms have recently commented on NVDA. Raymond James boosted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Craig Hallum raised their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th.

NVIDIA Trading Down 1.6 %

NASDAQ NVDA opened at $116.00 on Friday. The firm’s 50 day moving average price is $115.99 and its two-hundred day moving average price is $107.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The stock has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts anticipate that NVIDIA will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. Insiders sold a total of 3,472,303 shares of company stock worth $417,461,507 over the last 90 days. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently modified their holdings of the stock. OMNI 360 Wealth Inc. acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $240,000. Bedel Financial Consulting Inc. boosted its holdings in shares of NVIDIA by 10.7% in the fourth quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock valued at $1,120,000 after buying an additional 219 shares during the period. BLB&B Advisors LLC increased its position in shares of NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after acquiring an additional 510,294 shares in the last quarter. Integrity Wealth Solutions LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $1,661,000. Finally, Cypress Point Wealth Management LLC lifted its position in NVIDIA by 772.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after acquiring an additional 5,294 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.