NVIDIA’s (NVDA) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Thursday morning, Benzinga reports. They currently have a $140.00 price objective on the computer hardware maker’s stock.

Several other research analysts also recently weighed in on NVDA. Oppenheimer restated an outperform rating and issued a $110.00 price target on shares of NVIDIA in a research note on Thursday, May 23rd. Truist Financial upped their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a buy rating in a research report on Tuesday. Rosenblatt Securities reiterated a buy rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday. Cantor Fitzgerald reissued an overweight rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday. Finally, Citigroup raised their price objective on NVIDIA from $126.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $142.10.

NVIDIA Stock Down 6.4 %

Shares of NVDA stock opened at $117.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. NVIDIA has a one year low of $39.23 and a one year high of $140.76. The company’s fifty day moving average price is $120.51 and its 200-day moving average price is $102.70. The company has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 68.77, a PEG ratio of 1.15 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. Sell-side analysts expect that NVIDIA will post 2.53 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the sale, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,021,333 shares of company stock valued at $599,173,182. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during 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. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.