NVIDIA (NASDAQ:NVDA) Stock Rating Reaffirmed by Loop Capital

Loop Capital reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Monday morning, Benzinga reports. Loop Capital currently has a $175.00 target price on the computer hardware maker’s stock.

Several other analysts have also recently issued reports on NVDA. DZ Bank cut NVIDIA from a buy rating to a hold rating and set a $102.50 price objective on the stock. in a report on Friday, May 24th. Oppenheimer reiterated an outperform rating and set a $110.00 price objective on shares of NVIDIA in a research report on Thursday, May 23rd. Rosenblatt Securities restated a buy rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 22nd. UBS Group increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a buy rating in a report on Monday, July 8th. Finally, Bank of America lifted their price target on NVIDIA from $132.00 to $150.00 and gave the stock a buy rating in a research report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $135.24.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $125.61 on Monday. The firm has a market cap of $3.09 trillion, a price-to-earnings ratio of 73.46, a P/E/G ratio of 1.15 and a beta of 1.68. The firm has a fifty day moving average price of $120.71 and a 200 day moving average price of $102.54. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the sale, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at approximately $10,474,135,774.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the transaction, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 4,021,333 shares of company stock valued at $599,173,182 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter worth $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.