Cantor Fitzgerald reissued their overweight rating on shares of NVIDIA (NASDAQ:NVDA - Free Report) in a report released on Thursday morning,Benzinga reports. They currently have a $175.00 price objective on the computer hardware maker's stock.
NVDA has been the topic of several other reports. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, August 29th. Citigroup upped their target price on NVIDIA from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Oppenheimer upped their target price on NVIDIA from $150.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Mizuho upped their target price on NVIDIA from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.82.
Check Out Our Latest Research Report on NVIDIA
NVIDIA Price Performance
Shares of NASDAQ:NVDA traded up $0.82 during mid-day trading on Thursday, reaching $146.71. The stock had a trading volume of 368,478,266 shares, compared to its average volume of 397,646,125. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.60 trillion, a P/E ratio of 67.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89. The business's 50 day moving average price is $133.00 and its 200 day moving average price is $121.54.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. The company 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 113.50% and a net margin of 55.04%. The firm's revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Research analysts expect that NVIDIA will post 2.68 EPS for the current fiscal year.
NVIDIA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.88%.
NVIDIA declared that its Board of Directors has initiated a share 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 8,100,117 shares of the company's stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. Insiders own 4.23% of the company's stock.
Institutional Investors Weigh In On NVIDIA
A number of institutional investors have recently modified their holdings of NVDA. Geode Capital Management LLC lifted its stake in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock valued at $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. Vanguard Group Inc. lifted its stake in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker's stock valued at $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock valued at $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after buying an additional 6,526,200 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Company Profile
(
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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.
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