Phillip Securities Reaffirms “Accumulate” Rating for NVIDIA (NASDAQ:NVDA)

Phillip Securities reaffirmed their accumulate rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Friday morning,Benzinga reports. They currently have a $160.00 price target on the computer hardware maker’s stock, up from their prior price target of $155.00.

NVDA has been the topic of several other research reports. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday. Evercore ISI boosted their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday. Finally, Citigroup upped their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Down 3.2 %

Shares of NVDA stock opened at $141.95 on Friday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 55.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89. The firm’s fifty day simple moving average is $134.01 and its 200 day simple moving average is $122.06. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA will post 2.68 EPS for the current year.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last three months. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. raised its stake in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the period. BCGM Wealth Management LLC raised its position in NVIDIA by 69.9% in the 1st quarter. BCGM Wealth Management LLC now owns 1,402 shares of the computer hardware maker’s stock valued at $1,267,000 after buying an additional 577 shares during the last quarter. Montag A & Associates Inc. lifted its stake in NVIDIA by 19.0% in the 1st quarter. Montag A & Associates Inc. now owns 15,253 shares of the computer hardware maker’s stock valued at $13,782,000 after acquiring an additional 2,438 shares in the last quarter. Atomi Financial Group Inc. boosted its position in NVIDIA by 10.6% during the 1st quarter. Atomi Financial Group Inc. now owns 15,652 shares of the computer hardware maker’s stock worth $14,142,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Keudell Morrison Wealth Management grew its stake in shares of NVIDIA by 1.2% during the 1st quarter. Keudell Morrison Wealth Management now owns 2,013 shares of the computer hardware maker’s stock worth $1,819,000 after acquiring an additional 24 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.