NVIDIA’s (NVDA) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Thursday morning, Marketbeat Ratings reports. Wedbush currently has a $160.00 target price on the computer hardware maker’s stock, up from their previous target price of $138.00.

Several other equities analysts also recently commented on the company. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, August 6th. Raymond James upped their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 3.3 %

NVIDIA stock opened at $141.98 on Thursday. NVIDIA has a 12-month low of $45.01 and a 12-month high of $149.77. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66. The firm has a 50 day moving average of $130.97 and a 200 day moving average of $120.32. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm 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 company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, research analysts predict that NVIDIA will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Curran Financial Partners LLC boosted its holdings 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 valued at $625,000 after buying an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew 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 buying an additional 12 shares during the last quarter. Poehling Capital Management INC. raised its stake in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after acquiring an additional 14 shares in the last quarter. Finally, FSA Wealth Management LLC raised its stake in shares of NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors 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.