Cantor Fitzgerald Raises NVIDIA (NASDAQ:NVDA) Price Target to $175.00

NVIDIA (NASDAQ:NVDA) had its target price boosted by Cantor Fitzgerald from $140.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

A number of other research firms also recently commented on NVDA. Tigress Financial raised their price objective on NVIDIA from $98.50 to $170.00 and gave the stock a buy rating in a report on Tuesday, June 18th. TD Cowen raised their target price on NVIDIA from $120.00 to $140.00 and gave the company a buy rating in a report on Monday, June 10th. Wolfe Research raised their target price on NVIDIA from $120.00 to $125.00 and gave the company an outperform rating in a report on Thursday, May 23rd. Stifel Nicolaus raised their target price on NVIDIA from $91.00 to $108.50 and gave the company a buy rating in a report on Monday, May 20th. Finally, Robert W. Baird boosted their target price 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. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $125.66.

NVIDIA Stock Performance

NASDAQ NVDA opened at $123.54 on Wednesday. The business’s 50-day moving average price is $106.24 and its 200 day moving average price is $83.48. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a market capitalization of $3.04 trillion, a PE ratio of 72.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. On average, research analysts predict that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the sale, the chief financial officer now owns 5,288,862 shares in the company, valued at $671,632,585.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares in the company, valued at $671,632,585.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,866,590 shares of company stock worth $324,317,704. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. Bright Futures Wealth Management LLC. acquired a new stake in NVIDIA during the first quarter valued at approximately $14,055,000. Quent Capital LLC boosted its holdings in NVIDIA by 3.2% during the first quarter. Quent Capital LLC now owns 14,445 shares of the computer hardware maker’s stock worth $13,053,000 after buying an additional 453 shares in the last quarter. Sensible Money LLC boosted its holdings in NVIDIA by 41.6% during the first quarter. Sensible Money LLC now owns 596 shares of the computer hardware maker’s stock worth $538,000 after buying an additional 175 shares in the last quarter. HM Payson & Co. boosted its holdings in NVIDIA by 97.1% during the first quarter. HM Payson & Co. now owns 152,416 shares of the computer hardware maker’s stock worth $137,717,000 after buying an additional 75,086 shares in the last quarter. Finally, Keynote Financial Services LLC bought a new stake in NVIDIA during the first quarter worth approximately $262,000. Institutional investors and hedge funds 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.