NVIDIA (NASDAQ:NVDA) Receives Accumulate Rating from Phillip Securities

Phillip Securities reissued their accumulate rating on shares of NVIDIA (NASDAQ:NVDA) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $160.00 price objective on the computer hardware maker’s stock, up from their previous price objective of $155.00.

A number of other equities analysts also recently issued reports on the stock. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Benchmark lifted their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 4.2 %

Shares of NASDAQ:NVDA opened at $136.02 on Friday. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66. The firm has a fifty day moving average price of $134.39 and a 200 day moving average price of $122.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

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

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

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted its position 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 acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $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 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.