NVIDIA (NASDAQ:NVDA) Earns Buy Rating from UBS Group

UBS Group reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Tuesday, Benzinga reports. They currently have a $150.00 target price on the computer hardware maker’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company boosted their target price on NVIDIA from $155.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, August 29th. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a buy rating in a research note on Thursday, August 29th. Robert W. Baird boosted their price target on NVIDIA from $120.00 to $150.00 and gave the company an outperform rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on NVIDIA from $115.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Price Performance

NVDA opened at $134.81 on Tuesday. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a 50-day moving average price of $117.48 and a 200-day moving average price of $110.17. 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 firm has a market cap of $3.31 trillion, a PE ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. Sell-side analysts predict that NVIDIA will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a share repurchase 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,201,270 shares of company stock valued at $371,285,277. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.