NVIDIA (NASDAQ:NVDA) Earns Outperform Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $175.00 target price on the computer hardware maker’s stock.

A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Evercore ISI lifted their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 3.2 %

NVIDIA stock opened at $141.95 on Thursday. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10. The firm’s 50-day simple moving average is $134.01 and its 200 day simple moving average is $122.28. The stock has a market cap of $3.48 trillion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. Research analysts predict that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in 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 usually an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % 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 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Stock Yards Bank & Trust Co. increased its position in shares of NVIDIA by 1.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 330,924 shares of the computer hardware maker’s stock valued at $40,187,000 after acquiring an additional 3,586 shares during the period. Capstone Capital LLC increased its holdings in NVIDIA by 27.3% during the 3rd quarter. Capstone Capital LLC now owns 3,795 shares of the computer hardware maker’s stock valued at $461,000 after purchasing an additional 815 shares during the period. Eaton Financial Holdings Company LLC bought a new position in NVIDIA during the 3rd quarter valued at approximately $3,894,000. Fulcrum Equity Management lifted its holdings in NVIDIA by 20.4% in the 3rd quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock worth $1,453,000 after buying an additional 2,031 shares during the period. Finally, Tudor Financial Inc. bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $1,440,000. 65.27% of the stock is owned by hedge funds and other 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.