NVIDIA's (NVDA) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of NVIDIA (NASDAQ:NVDA - Free Report) in a research note issued to investors on Thursday,Benzinga reports. Oppenheimer currently has a $175.00 target price on the computer hardware maker's stock.

NVDA has been the topic of a number of other reports. Wells Fargo & Company raised their price target on NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Barclays lifted their target price on NVIDIA from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Westpark Capital lifted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.82.

NVIDIA Stock Up 0.6 %

NASDAQ:NVDA traded up $0.82 during midday trading on Thursday, reaching $146.71. The company had a trading volume of 368,478,266 shares, compared to its average volume of 397,646,125. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The stock's fifty day simple moving average is $133.55 and its 200-day simple moving average is $121.72. NVIDIA has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. NVIDIA's revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company 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. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Insiders own 4.23% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the business. Hamilton Wealth LLC raised its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Poehling Capital Management INC. raised its stake in NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker's stock valued at $1,442,000 after purchasing an additional 14 shares in the last quarter. FSA Wealth Management LLC raised its stake in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker's stock valued at $439,000 after purchasing an additional 14 shares in the last quarter. Clean Yield Group raised its stake in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker's stock valued at $1,622,000 after purchasing an additional 15 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its stake in NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker's stock valued at $1,092,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds 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.