The Goldman Sachs Group Boosts NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA) had its price objective boosted by The Goldman Sachs Group from $135.00 to $150.00 in a research note published on Friday morning, MarketBeat reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other analysts have also issued reports on NVDA. Melius Research lifted their price target on NVIDIA from $125.00 to $160.00 and gave the stock a buy rating in a research note on Friday, June 21st. Raymond James lifted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a strong-buy rating in a research note on Thursday, August 29th. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a buy rating in a report on Thursday, August 29th. Morgan Stanley reissued an overweight rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $142.46.

NVIDIA Price Performance

NVIDIA stock opened at $134.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company’s fifty day moving average price is $118.54 and its 200 day moving average price is $110.89. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’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 transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were 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 owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,236,270 shares of company stock worth $376,316,727 in the last ninety days. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. 65.27% of the stock is 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.