NVIDIA (NASDAQ:NVDA) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a $140.00 target price on the computer hardware maker’s stock, up from their prior target price of $128.80.

Several other research firms have also recently weighed in on NVDA. Wedbush boosted their price target on shares of NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Stifel Nicolaus boosted their price target on shares of NVIDIA from $91.00 to $108.50 and gave the stock a buy rating in a report on Monday, May 20th. Wolfe Research boosted their price target on shares of NVIDIA from $120.00 to $125.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. CICC Research started coverage on shares of NVIDIA in a report on Wednesday, March 6th. They set an outperform rating and a $87.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of NVIDIA from $125.00 to $155.00 and gave the stock an overweight rating in a report on Tuesday, June 18th. Five investment 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. According to data from MarketBeat, NVIDIA currently has an average rating of Moderate Buy and a consensus target price of $125.66.

NVIDIA Stock Down 0.4 %

Shares of NASDAQ NVDA opened at $123.54 on Thursday. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 72.25, a P/E/G ratio of 1.30 and a beta of 1.70. The company has a 50-day moving average price of $106.24 and a 200-day moving average price of $83.73. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

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

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. NVIDIA’s dividend payout ratio is 2.34%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction 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 sale, the director now directly owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,866,590 shares of company stock valued at $324,317,704. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the company. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the period. Brooklyn FI LLC lifted its position in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares during the period. Curran Financial Partners LLC lifted its position in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its position in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the period. Finally, M. Kraus & Co lifted its position in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 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.