NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,400.00 by Analysts at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA) had its price objective raised by Cantor Fitzgerald from $1,200.00 to $1,400.00 in a research report released on Thursday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of NVIDIA from $1,000.00 to $1,160.00 and gave the company an overweight rating in a research report on Thursday. CICC Research started coverage on NVIDIA in a report on Wednesday, March 6th. They issued an outperform rating and a $870.00 target price for the company. UBS Group upped their price target on NVIDIA from $1,150.00 to $1,200.00 and gave the company a buy rating in a report on Thursday. Wells Fargo & Company lifted their price objective on NVIDIA from $970.00 to $1,150.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a hold rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of Moderate Buy and an average price target of $1,125.95.

NVIDIA Stock Performance

NVIDIA stock opened at $1,037.99 on Thursday. NVIDIA has a twelve month low of $298.06 and a twelve month high of $1,063.20. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.55 trillion, a P/E ratio of 60.70, a PEG ratio of 1.32 and a beta of 1.75. The stock’s 50 day moving average is $889.46 and its 200 day moving average is $698.74.

Shares of NVIDIA are going to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 122.24% and a net margin of 53.40%. The firm 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 $0.88 earnings per share. The company’s revenue was up 262.1% on a year-over-year basis. On average, equities research analysts predict that NVIDIA will post 23.18 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 0.04%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is currently 0.94%.

Insider Activity

In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,278 shares of company stock worth $44,714,198. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth $14,606,369,000. Northern Trust Corp grew its stake in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of 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 valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares during the period. 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.