NVIDIA (NASDAQ:NVDA) Price Target Raised to $165.00 at Wells Fargo & Company

NVIDIA (NASDAQ:NVDA) had its target price upped by Wells Fargo & Company from $155.00 to $165.00 in a research note released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. Robert W. Baird increased their price objective on shares of NVIDIA from $105.00 to $120.00 and gave the stock an outperform rating in a research report on Monday, May 20th. Piper Sandler increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, July 22nd. Bank of America increased their price objective on shares of NVIDIA from $132.00 to $150.00 and gave the stock a buy rating in a research report on Monday, June 3rd. DZ Bank cut shares of NVIDIA from a buy rating to a hold rating and set a $102.50 price objective for the company. in a research report on Friday, May 24th. Finally, Craig Hallum increased their price objective on shares of NVIDIA from $85.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Price Performance

NVDA stock opened at $117.59 on Thursday. The company has a fifty day moving average price of $120.51 and a 200-day moving average price of $102.70. The company has a market capitalization of $2.89 trillion, a P/E ratio of 68.77, a PEG ratio of 1.15 and a beta of 1.68. NVIDIA has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, equities analysts expect that NVIDIA will post 2.53 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold 4,021,333 shares of company stock worth $599,173,182 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SRN Advisors LLC grew its stake in NVIDIA by 1,314.8% in the 2nd quarter. SRN Advisors LLC now owns 24,716 shares of the computer hardware maker’s stock worth $3,053,000 after buying an additional 22,969 shares in the last quarter. Farmers National Bank lifted its holdings in shares of NVIDIA by 886.2% in the 2nd quarter. Farmers National Bank now owns 21,480 shares of the computer hardware maker’s stock worth $2,654,000 after acquiring an additional 19,302 shares during the last quarter. RiverFront Investment Group LLC lifted its holdings in shares of NVIDIA by 10,796.1% in the 2nd quarter. RiverFront Investment Group LLC now owns 563,329 shares of the computer hardware maker’s stock worth $69,594,000 after acquiring an additional 558,159 shares during the last quarter. Gibson Wealth Advisors LLC lifted its holdings in shares of NVIDIA by 900.0% in the 2nd quarter. Gibson Wealth Advisors LLC now owns 12,860 shares of the computer hardware maker’s stock worth $1,589,000 after acquiring an additional 11,574 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL lifted its holdings in shares of NVIDIA by 1,028.0% in the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 32,375 shares of the computer hardware maker’s stock worth $4,000,000 after acquiring an additional 29,505 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.