NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Truist Financial Analyst Says

NVIDIA (NASDAQ:NVDA - Free Report) had its price objective boosted by Truist Financial from $205.00 to $210.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the computer hardware maker's stock.

Other research analysts have also issued reports about the company. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday. TD Cowen raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $4.91 during trading hours on Thursday, hitting $134.28. The stock had a trading volume of 332,224,842 shares, compared to its average volume of 284,499,573. The stock's fifty day simple moving average is $115.48 and its 200 day simple moving average is $126.38. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA has a 1-year low of $86.62 and a 1-year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Sell-side analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared 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 (DPR) is presently 1.29%.

Insider Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last three months. Corporate insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently bought and sold shares of the business. Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter valued at approximately $2,272,000. Capital Performance Advisors LLP grew its stake in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after buying an additional 9,944 shares during the last quarter. Waddell & Associates LLC grew its stake in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after buying an additional 297 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after acquiring an additional 405 shares during the period. Finally, Ethos Financial Group LLC lifted its position in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock worth $4,312,000 after acquiring an additional 6,241 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.