NVIDIA (NASDAQ:NVDA) Price Target Raised to $155.00 at JPMorgan Chase & Co.

NVIDIA (NASDAQ:NVDA) had its price target boosted by JPMorgan Chase & Co. from $115.00 to $155.00 in a report issued on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the computer hardware maker’s stock.

Other equities analysts have also issued research reports about the stock. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a buy rating in a research report on Thursday. HSBC lifted their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. DZ Bank downgraded shares of NVIDIA from a buy rating to a hold rating and set a $102.50 price target on the stock. in a research note on Friday, May 24th. Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a strong-buy rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their target price on shares of NVIDIA from $100.00 to $130.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. Five investment 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. Based on data from MarketBeat, NVIDIA presently has an average rating of Moderate Buy and a consensus price target of $142.10.

NVIDIA Trading Down 6.4 %

NASDAQ:NVDA opened at $117.59 on Thursday. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The firm has a market cap of $2.89 trillion, a price-to-earnings ratio of 68.77, a P/E/G ratio of 1.15 and a beta of 1.68. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $120.51 and its 200-day moving average is $102.70.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Equities analysts anticipate that NVIDIA will post 2.53 EPS for the current year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

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

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new position in shares of NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the first quarter worth $45,000. Finally, Coston McIsaac & Partners boosted its position in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.