NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Raymond James Analyst Says

NVIDIA (NASDAQ:NVDA - Free Report) had its price target hoisted by Raymond James from $150.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a strong-buy rating on the computer hardware maker's stock.

A number of other research firms have also issued reports on NVDA. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $4.91 on Thursday, hitting $134.28. The company's stock had a trading volume of 332,224,842 shares, compared to its average volume of 284,499,573. The company has a market capitalization of $3.28 trillion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA has a 52-week low of $86.62 and a 52-week high of $195.95. The firm has a fifty day moving average price of $115.48 and a 200-day moving average price of $126.38. 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 (NASDAQ:NVDA - Get Free Report) last announced its 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). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, equities research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp raised its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently 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.