NVIDIA’s (NVDA) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has a $175.00 price target on the computer hardware maker’s stock.

Several other equities analysts also recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $160.00 price objective (up from $138.00) on shares of NVIDIA in a report on Thursday, November 14th. Mizuho upped their price target on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC upped their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 3.2 %

Shares of NASDAQ:NVDA opened at $141.95 on Thursday. NVIDIA has a 52-week low of $45.01 and a 52-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 company has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company has a 50-day simple moving average of $134.01 and a 200 day simple moving average of $122.28.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts forecast that NVIDIA will post 2.68 earnings per share for the current year.

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 outstanding 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 often a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter worth about $27,000. 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.