NVIDIA (NASDAQ:NVDA) Given New $170.00 Price Target at Tigress Financial

NVIDIA (NASDAQ:NVDAFree Report) had its price target raised by Tigress Financial from $98.50 to $170.00 in a research note published on Tuesday, Benzinga reports. Tigress Financial currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Wedbush raised their target price on NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Piper Sandler raised their price objective on NVIDIA from $105.00 to $120.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Oppenheimer reissued an outperform rating and set a $110.00 price objective on shares of NVIDIA in a research report on Thursday, May 23rd. Finally, TD Cowen raised their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a buy rating in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $121.77.

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NVIDIA Stock Down 3.2 %

Shares of NVDA opened at $126.57 on Tuesday. NVIDIA has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a market capitalization of $3.11 trillion, a PE ratio of 74.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The stock has a fifty day simple moving average of $102.25 and a two-hundred day simple moving average of $80.55. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is currently 2.34%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Debora Shoquist sold 150,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $115.16, for a total value of $17,273,850.00. Following the sale, the executive vice president now directly owns 1,553,630 shares in the company, valued at $178,914,477.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the sale, the chief executive officer now owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Insiders have sold 1,413,370 shares of company stock valued at $263,248,609 over the last quarter. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA in the first quarter valued at $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the first quarter worth about $45,000. Finally, Coston McIsaac & Partners increased its stake in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

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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.

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