NVIDIA (NASDAQ:NVDA) Earns Buy Rating from UBS Group

UBS Group reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note published on Tuesday morning, Benzinga reports. They currently have a $150.00 price objective on the computer hardware maker’s stock.

Several other brokerages have also recently commented on NVDA. Rosenblatt Securities reiterated a buy rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Argus upped their target price on NVIDIA from $110.00 to $150.00 and gave the company a buy rating in a report on Tuesday, June 11th. Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the company a buy rating in a report on Thursday, August 29th. Westpark Capital upped their target price on NVIDIA from $127.50 to $165.00 and gave the company a buy rating in a report on Thursday, August 29th. Finally, StockNews.com cut NVIDIA from a strong-buy rating to a hold rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Stock Up 1.6 %

NVIDIA stock opened at $134.81 on Tuesday. The stock has a market capitalization of $3.31 trillion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The business has a 50 day simple moving average of $117.48 and a 200-day simple moving average of $110.17. 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 posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 previous year, the business earned $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. On average, analysts anticipate that NVIDIA will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. 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 (DPR) is 1.88%.

NVIDIA declared that its board has approved a stock buyback program 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents 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 the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total value of $14,300,400.00. Following the transaction, the chief executive officer now directly owns 78,654,995 shares of the company’s stock, valued at $9,373,315,754.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,201,270 shares of company stock valued at $371,285,277 over the last three months. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truepoint Inc. lifted its position in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Consolidated Planning Corp lifted its position in NVIDIA by 825.9% in the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares during the period. International Private Wealth Advisors LLC lifted its position in NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after purchasing an additional 7,028 shares during the period. Lafayette Investments Inc. lifted its position in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after purchasing an additional 5,140 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd lifted its position in NVIDIA by 51.4% in the second quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares during the period. 65.27% of the stock is owned by institutional investors.

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.