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

NVIDIA (NASDAQ:NVDA - Free Report) had its price objective increased by Mizuho from $170.00 to $185.00 in a research report sent to investors on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the computer hardware maker's stock.

A number of other research analysts have also issued reports on the company. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Truist Financial raised their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.19.

NVIDIA Trading Up 1.3%

Shares of NVIDIA stock traded up $2.03 during mid-day trading on Thursday, hitting $159.28. The stock had a trading volume of 143,716,055 shares, compared to its average volume of 268,139,289. The firm has a market cap of $3.89 trillion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 1.39 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA has a 12-month low of $86.62 and a 12-month high of $160.93. The firm has a 50-day moving average of $134.36 and a two-hundred day moving average of $127.45.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts forecast that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the transaction, the chief executive officer owned 75,323,225 shares of the company's stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. Wealth Group Ltd. lifted its position in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA during the fourth quarter worth $972,000. Capital & Planning LLC boosted its position in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. increased its position in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.