NVIDIA’s (NVDA) “Buy” Rating Reiterated at Loop Capital

Loop Capital reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Monday, Benzinga reports. Loop Capital currently has a $175.00 price objective on the computer hardware maker’s stock.

A number of other analysts have also recently issued reports on the stock. Wedbush lifted their target price on shares of NVIDIA from $120.00 to $138.00 and gave the company an outperform rating in a research note on Friday, August 23rd. UBS Group lifted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a buy rating in a research report on Monday, July 8th. Citigroup lifted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Bank of America lifted their price target on shares of NVIDIA from $132.00 to $150.00 and gave the company a buy rating in a research report on Monday, June 3rd. Finally, Barclays dropped their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an overweight rating on the stock in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $142.10.

NVIDIA Price Performance

NASDAQ NVDA opened at $117.59 on Monday. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.89 trillion, a PE ratio of 68.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The company has a 50 day moving average price of $120.51 and a two-hundred day moving average price of $102.70. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities analysts predict that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Activity

In other news, EVP Debora Shoquist sold 150,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $115.16, for a total value of $17,273,850.00. Following the sale, the executive vice president now owns 1,553,630 shares in the company, valued at approximately $178,914,477.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 89,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $113.92, for a total transaction of $10,138,880.00. Following the transaction, the director now owns 10,162,940 shares in the company, valued at approximately $1,157,762,124.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Debora Shoquist sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $115.16, for a total transaction of $17,273,850.00. Following the transaction, the executive vice president now owns 1,553,630 shares in the company, valued at approximately $178,914,477.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,021,333 shares of company stock worth $599,173,182. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SRN Advisors LLC lifted its position in NVIDIA by 1,314.8% during the 2nd quarter. SRN Advisors LLC now owns 24,716 shares of the computer hardware maker’s stock worth $3,053,000 after buying an additional 22,969 shares in the last quarter. Farmers National Bank raised its holdings in NVIDIA by 886.2% during the 2nd quarter. Farmers National Bank now owns 21,480 shares of the computer hardware maker’s stock worth $2,654,000 after purchasing an additional 19,302 shares during the last quarter. RiverFront Investment Group LLC raised its holdings in NVIDIA by 10,796.1% during the 2nd quarter. RiverFront Investment Group LLC now owns 563,329 shares of the computer hardware maker’s stock worth $69,594,000 after purchasing an additional 558,159 shares during the last quarter. Gibson Wealth Advisors LLC raised its holdings in NVIDIA by 900.0% during the 2nd quarter. Gibson Wealth Advisors LLC now owns 12,860 shares of the computer hardware maker’s stock worth $1,589,000 after purchasing an additional 11,574 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL raised its holdings in NVIDIA by 1,028.0% during the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 32,375 shares of the computer hardware maker’s stock worth $4,000,000 after purchasing an additional 29,505 shares during 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.