The Goldman Sachs Group Boosts NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price target upped by The Goldman Sachs Group from $1,100.00 to $1,200.00 in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the computer hardware maker’s stock.

Several other equities research analysts have also weighed in on the company. TD Cowen lifted their price objective on NVIDIA from $900.00 to $1,100.00 and gave the stock an outperform rating in a report on Thursday, March 21st. HSBC lifted their target price on NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a report on Friday, May 10th. Oppenheimer reaffirmed an outperform rating and set a $1,100.00 target price on shares of NVIDIA in a report on Friday, May 17th. Bank of America lifted their target price on NVIDIA from $1,100.00 to $1,320.00 and gave the company a buy rating in a report on Thursday. Finally, Evercore ISI lifted their target price on NVIDIA from $1,160.00 to $1,310.00 and gave the company an outperform rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $1,123.49.

NVIDIA Trading Up 2.6 %

Shares of NVDA opened at $1,064.69 on Thursday. The business has a 50-day moving average of $893.19 and a 200 day moving average of $706.34. NVIDIA has a fifty-two week low of $366.35 and a fifty-two week high of $1,064.75. The firm has a market cap of $2.62 trillion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53.

NVIDIA’s stock is going to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same quarter last year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, research analysts forecast that NVIDIA will post 23.6 EPS for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is presently 0.94%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,278 shares of company stock worth $40,710,498. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in NVIDIA in the fourth quarter worth $14,606,369,000. International Assets Investment Management LLC grew its stake in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Vanguard Group Inc. grew its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Global Assets Advisory LLC purchased a new stake in NVIDIA in the first quarter worth $4,826,280,000. Finally, Swedbank AB purchased a new stake in NVIDIA in the first quarter worth $3,922,733,000. 65.27% of the stock is 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.