NVIDIA’s (NVDA) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $600.00 target price on the computer hardware maker’s stock.

Several other research analysts also recently issued reports on NVDA. JPMorgan Chase & Co. upped their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an overweight rating in a report on Thursday, August 24th. BMO Capital Markets raised their target price on shares of NVIDIA from $450.00 to $550.00 and gave the company an outperform rating in a research note on Monday, August 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $440.00 to $560.00 and gave the company a hold rating in a report on Thursday, August 24th. Barclays lifted their target price on shares of NVIDIA from $600.00 to $650.00 and gave the stock an overweight rating in a report on Thursday, August 24th. Finally, StockNews.com began coverage on NVIDIA in a research note on Thursday, October 5th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $571.49.

NVIDIA Stock Up 2.3 %

Shares of NVDA stock opened at $504.09 on Friday. The stock’s 50 day simple moving average is $445.22 and its 200 day simple moving average is $425.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. NVIDIA has a twelve month low of $138.84 and a twelve month high of $505.48. The company has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 121.76, a PEG ratio of 3.80 and a beta of 1.69.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue was up 101.5% on a year-over-year basis. As a group, research analysts predict that NVIDIA will post 9.66 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

Insider Activity

In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Several large investors have recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. grew its position in NVIDIA by 2.5% during the 3rd quarter. PCA Investment Advisory Services Inc. now owns 857 shares of the computer hardware maker’s stock worth $373,000 after purchasing an additional 21 shares during the last quarter. Lineweaver Wealth Advisors LLC increased its position in NVIDIA by 0.9% in the 2nd quarter. Lineweaver Wealth Advisors LLC now owns 2,432 shares of the computer hardware maker’s stock valued at $1,029,000 after acquiring an additional 22 shares during the period. Family Legacy Inc. lifted its position in NVIDIA by 4.1% during the 3rd quarter. Family Legacy Inc. now owns 554 shares of the computer hardware maker’s stock worth $241,000 after acquiring an additional 22 shares during the period. Eagle Strategies LLC grew its stake in shares of NVIDIA by 0.3% in the 3rd quarter. Eagle Strategies LLC now owns 7,324 shares of the computer hardware maker’s stock valued at $3,186,000 after purchasing an additional 22 shares during the last quarter. Finally, BCM Advisors LLC increased its holdings in shares of NVIDIA by 0.8% in the second quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock valued at $1,390,000 after purchasing an additional 23 shares during the period. 64.79% 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, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.