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

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

Other equities research analysts have also issued research reports about the company. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Needham & Company LLC upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein upped their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NVDA opened at $136.02 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The stock’s 50-day moving average price is $134.39 and its two-hundred day moving average price is $122.84.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. On average, equities analysts predict that NVIDIA will post 2.73 earnings per share for the current year.

NVIDIA Announces Dividend

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

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

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value 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. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the 2nd 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 in the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

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.