The Goldman Sachs Group Increases NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target hoisted by The Goldman Sachs Group from $135.00 to $150.00 in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the computer hardware maker's stock. The Goldman Sachs Group's price objective indicates a potential upside of 11.27% from the company's current price.

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A number of other brokerages have also recently commented on NVDA. Raymond James raised their target price on NVIDIA from $120.00 to $140.00 and gave the company a "strong-buy" rating in a report on Thursday, August 29th. Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. StockNews.com cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 18th. DA Davidson restated a "neutral" rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Tigress Financial lifted their price objective on NVIDIA from $98.50 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.46.

Read Our Latest Stock Report on NVDA

NVIDIA Stock Performance

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NASDAQ NVDA opened at $134.81 on Friday. The stock has a market cap of $3.31 trillion, a PE ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The stock has a fifty day simple moving average of $117.99 and a 200-day simple moving average of $110.34.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts' expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 EPS. The company's revenue was up 122.4% compared to the same quarter last year. Equities analysts anticipate that NVIDIA will post 2.65 earnings per share for the current year.

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NVIDIA announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction on 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 approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 165,100 shares of the business's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,201,270 shares of company stock worth $371,285,277 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker's stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other 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.

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