Stifel Nicolaus Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA) had its price target raised by Stifel Nicolaus from $165.00 to $180.00 in a research report sent to investors on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the computer hardware maker’s stock.

Several other equities analysts have also recently issued reports on NVDA. Citigroup boosted their target price on NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer boosted their target price on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Melius Research lifted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Finally, Piper Sandler increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.63.

NVIDIA Stock Up 4.9 %

NVDA stock opened at $147.01 on Tuesday. The stock’s fifty day simple moving average is $132.42 and its two-hundred day simple moving average is $121.37. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a market cap of $3.61 trillion, a P/E ratio of 69.02, a P/E/G ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. Analysts expect that NVIDIA will post 2.67 EPS for the current year.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value 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 $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last three months. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Large investors have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. 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.