NVIDIA Co. (NASDAQ:NVDA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NVIDIA Co. (NASDAQ:NVDA) has received an average recommendation of “Moderate Buy” from the forty-four ratings firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, thirty-eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $131.59.

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday. HSBC lifted their price objective on shares of NVIDIA from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Rosenblatt Securities raised their target price on NVIDIA from $140.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Wedbush increased their price objective on NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Finally, Mizuho lifted their target price on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a research note on Tuesday, June 4th.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $100.45 on Thursday. The company has a 50-day moving average of $121.70 and a 200-day moving average of $96.11. The firm has a market cap of $2.47 trillion, a price-to-earnings ratio of 58.74, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Analysts forecast that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The disclosure for this sale can be found here. Insiders have sold 3,960,723 shares of company stock worth $594,975,341 over the last three months. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Rhumbline Advisers lifted its stake in NVIDIA by 892.0% in the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock valued at $5,773,914,000 after buying an additional 42,025,613 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in NVIDIA by 741.8% during the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after buying an additional 35,255,679 shares during the last quarter. 65.27% of the stock is 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.