NVIDIA (NASDAQ:NVDA) Price Target Raised to $200.00 at Bank of America

NVIDIA (NASDAQ:NVDA) had its price target increased by Bank of America from $190.00 to $200.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other analysts have also weighed in on NVDA. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $120.15 on Thursday. The stock has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.28, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50 day moving average price of $134.39 and a 200-day moving average price of $131.81. NVIDIA has a one year low of $75.61 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Equities analysts expect that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock worth $146,405,286 over the last three months. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Ironwood Wealth Management LLC. increased its holdings in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the second quarter valued at $31,000. Beck Bode LLC raised its position in shares of NVIDIA by 698.5% in the second quarter. Beck Bode LLC now owns 182,866 shares of the computer hardware maker’s stock worth $22,591,000 after acquiring an additional 159,966 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of NVIDIA by 1,335.6% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 25,237 shares of the computer hardware maker’s stock worth $3,118,000 after acquiring an additional 23,479 shares in the last quarter. Finally, Dorsey Wright & Associates grew its position in shares of NVIDIA by 574.3% during the 2nd quarter. Dorsey Wright & Associates now owns 103,292 shares of the computer hardware maker’s stock valued at $12,761,000 after acquiring an additional 87,973 shares during the period. 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.