NVIDIA (NASDAQ:NVDA) Upgraded to Strong-Buy by TD Cowen

TD Cowen upgraded shares of NVIDIA (NASDAQ:NVDA) to a strong-buy rating in a report released on Monday, Zacks.com reports.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group reiterated a buy rating and set a $135.00 price objective on shares of NVIDIA in a research note on Monday, August 19th. Stifel Nicolaus increased their price target on shares of NVIDIA from $91.00 to $108.50 and gave the stock a buy rating in a research report on Monday, May 20th. Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the company an outperform rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Finally, Benchmark reiterated a buy rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Stock Down 1.9 %

Shares of NASDAQ NVDA opened at $116.78 on Monday. The firm has a market cap of $2.87 trillion, a price-to-earnings ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock’s 50-day simple moving average is $117.19 and its 200-day simple moving average is $106.39.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. As a group, equities analysts anticipate that NVIDIA will post 2.64 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Verity & Verity LLC raised its position in shares of NVIDIA by 814.6% during the second quarter. Verity & Verity LLC now owns 4,070 shares of the computer hardware maker’s stock worth $503,000 after purchasing an additional 3,625 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in NVIDIA by 900.0% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 89,000 shares of the computer hardware maker’s stock worth $10,995,000 after purchasing an additional 80,100 shares in the last quarter. American Trust raised its holdings in NVIDIA by 749.8% during the 2nd quarter. American Trust now owns 29,549 shares of the computer hardware maker’s stock worth $3,650,000 after buying an additional 26,072 shares during the period. Summit Wealth Partners LLC lifted its stake in NVIDIA by 697.1% during the second quarter. Summit Wealth Partners LLC now owns 18,659 shares of the computer hardware maker’s stock valued at $2,305,000 after buying an additional 16,318 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of NVIDIA by 965.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 217,349 shares of the computer hardware maker’s stock worth $26,851,000 after buying an additional 196,958 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.