Rosenblatt Securities Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA - Free Report) had its price target lifted by Rosenblatt Securities from $178.00 to $200.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the computer hardware maker's stock.

Several other analysts have also weighed in on the company. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. TD Cowen cut their price objective on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Morgan Stanley restated an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Stock Performance

NVDA stock traded down $4.91 during trading on Thursday, reaching $134.28. 332,224,842 shares of the company's stock were exchanged, compared to its average volume of 285,804,787. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a 1-year low of $86.62 and a 1-year high of $195.95. The company's fifty day moving average price is $115.20 and its 200-day moving average price is $126.61. The firm has a market cap of $3.28 trillion, a PE ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the firm posted $0.61 EPS. The company's revenue was up 69.2% compared to the same quarter last year. On average, research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. Insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

Several institutional investors have recently modified their holdings of NVDA. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Nuveen LLC bought a new position in shares of NVIDIA during the 1st quarter worth approximately $15,089,414,000. Goldman Sachs Group Inc. lifted its position in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after buying an additional 103,889,872 shares during the period. GAMMA Investing LLC lifted its position in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Finally, Northern Trust Corp lifted its position in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

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.