NVIDIA (NASDAQ:NVDA) Coverage Initiated by Analysts at William Blair

William Blair began coverage on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating on the computer hardware maker’s stock.

Other research analysts also recently issued reports about the company. Argus boosted their price target on NVIDIA from $110.00 to $150.00 and gave the company a buy rating in a report on Tuesday, June 11th. Wolfe Research upped their price objective on NVIDIA from $120.00 to $125.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Mizuho upped their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an outperform rating in a report on Thursday, August 29th. StockNews.com downgraded NVIDIA from a strong-buy rating to a hold rating in a report on Tuesday, June 18th. Finally, HSBC upped their price objective on NVIDIA from $135.00 to $145.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Trading Down 1.6 %

Shares of NVDA opened at $116.00 on Wednesday. The stock has a fifty day moving average of $115.99 and a two-hundred day moving average of $107.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. As a group, analysts forecast that NVIDIA will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now directly owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock valued at $444,047,307 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Baader Bank Aktiengesellschaft lifted its position in NVIDIA by 34.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after acquiring an additional 11,445 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in NVIDIA during the 4th quarter worth $240,000. Bedel Financial Consulting Inc. lifted its position in NVIDIA by 10.7% during the 4th quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock worth $1,120,000 after acquiring an additional 219 shares during the last quarter. BLB&B Advisors LLC lifted its position in NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after acquiring an additional 510,294 shares during the last quarter. Finally, Integrity Wealth Solutions LLC acquired a new position in NVIDIA during the 4th quarter worth $1,661,000. 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.