The Goldman Sachs Group Reaffirms “Buy” Rating for NVIDIA (NASDAQ:NVDA)

The Goldman Sachs Group reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Monday, Benzinga reports. They currently have a $135.00 price target on the computer hardware maker’s stock.

Other analysts also recently issued research reports about the company. DZ Bank downgraded NVIDIA from a buy rating to a hold rating and set a $102.50 target price on the stock. in a research note on Friday, May 24th. Oppenheimer reaffirmed an outperform rating and set a $110.00 price objective on shares of NVIDIA in a research note on Thursday, May 23rd. Barclays cut their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an overweight rating for the company in a report on Monday, June 10th. New Street Research downgraded shares of NVIDIA from a buy rating to a neutral rating in a report on Friday, July 5th. Finally, Bank of America lifted their price objective on shares of NVIDIA from $132.00 to $150.00 and gave the company a buy rating in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of Moderate Buy and an average price target of $131.31.

NVIDIA Stock Up 6.1 %

Shares of NVDA stock opened at $104.97 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The firm has a market capitalization of $2.58 trillion, a PE ratio of 61.39, a P/E/G ratio of 1.15 and a beta of 1.68. The stock’s 50-day simple moving average is $120.96 and its 200-day simple moving average is $96.81.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’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 EPS. Equities analysts expect that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 2.34%.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the director now directly owns 555,000 shares of the company’s stock, valued at $58,785,600. The disclosure for this sale can be found here. Insiders sold 4,200,723 shares of company stock worth $619,414,541 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hamilton Wealth LLC increased its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC increased its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its stake in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its holdings in shares of NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 shares during the period. 65.27% of the stock is owned by hedge funds and other 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.