NVIDIA’s (NVDA) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Thursday morning,Benzinga reports. They currently have a $175.00 price objective on the computer hardware maker’s stock.

Several other brokerages have also recently issued reports on NVDA. Oppenheimer upped their price objective on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Bank of America upped their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 3.2 %

NASDAQ:NVDA opened at $141.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The business’s 50-day simple moving average is $134.01 and its 200 day simple moving average is $122.51. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on 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. This represents a 1.88 % 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 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth about $27,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the first quarter worth about $82,000. Delos Wealth Advisors LLC grew its position in NVIDIA by 600.0% during the first 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 in the last quarter. Finally, Lowe Wealth Advisors LLC bought a new position in NVIDIA during the second quarter worth about $25,000. 65.27% of the stock is currently owned by institutional investors.

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.