NVIDIA (NASDAQ:NVDA) Given New $170.00 Price Target at JPMorgan Chase & Co.

NVIDIA (NASDAQ:NVDA) had its price objective upped by JPMorgan Chase & Co. from $155.00 to $170.00 in a research note released on Thursday, MarketBeat reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Mizuho lifted their target price on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. The Goldman Sachs Group raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Stock Down 2.1 %

NASDAQ:NVDA traded down $3.11 during trading hours on Thursday, reaching $143.56. The company’s stock had a trading volume of 83,554,206 shares, compared to its average volume of 396,215,688. The company has a market cap of $3.52 trillion, a price-to-earnings ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The business’s 50-day moving average is $133.55 and its 200-day moving average is $121.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts predict that NVIDIA will post 2.68 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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 outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $27,000. TCTC Holdings LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at about $82,000. Delos Wealth Advisors LLC raised its holdings in shares of NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after purchasing an additional 96 shares during the period. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. 65.27% of the stock is owned by institutional investors.

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.