NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00 at Oppenheimer

NVIDIA (NASDAQ:NVDA) had its target price increased by Oppenheimer from $150.00 to $175.00 in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

A number of other brokerages have also recently weighed in on NVDA. Truist Financial increased their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. HSBC upped their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Down 3.3 %

Shares of NVIDIA stock traded down $4.78 during trading hours on Thursday, hitting $141.98. The company had a trading volume of 246,946,036 shares, compared to its average volume of 399,397,188. The company’s 50-day moving average is $130.18 and its two-hundred day moving average is $119.70. NVIDIA has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.48 trillion, a P/E ratio of 66.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. Analysts anticipate that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in the business. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised 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 purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired 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 in the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at $27,000. 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.