NVIDIA's (NVDA) "Buy" Rating Reiterated at Bank of America

Bank of America restated their buy rating on shares of NVIDIA (NASDAQ:NVDA - Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $190.00 price objective on the computer hardware maker's stock.

Several other equities analysts have also recently issued reports on the stock. Benchmark boosted their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler boosted 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. Wells Fargo & Company raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Finally, Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the company a "strong-buy" rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.82.

NVIDIA Stock Performance

Shares of NVDA stock traded up $0.82 during trading hours on Thursday, hitting $146.71. The stock had a trading volume of 368,478,266 shares, compared to its average volume of 397,646,125. The stock's 50 day moving average is $133.55 and its 200 day moving average is $121.72. The firm has a market capitalization of $3.60 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA has a twelve month low of $45.01 and a twelve month high of $152.89. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 EPS. NVIDIA's revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA's dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 75,895,836 shares of the company's stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in NVIDIA during the 1st quarter valued at approximately $82,000. Delos Wealth Advisors LLC grew its stake in NVIDIA by 600.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker's stock worth $101,000 after buying an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the second quarter valued at $25,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.