NVIDIA’s (NVDA) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $175.00 price target on the computer hardware maker’s stock.

A number of other brokerages also recently issued reports on NVDA. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Westpark Capital increased their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Barclays increased their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $141.95 on Thursday. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $134.01 and its 200-day simple moving average is $122.28. NVIDIA has a 52 week low of $45.01 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. As a group, analysts expect that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. 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 approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors have recently made changes to their positions in the business. Hamilton Wealth LLC increased its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Poehling Capital Management INC. grew its position in NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after purchasing an additional 14 shares during the last quarter. FSA Wealth Management LLC increased its stake in NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after purchasing an additional 14 shares in the last quarter. Clean Yield Group raised its holdings in shares of NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in shares of NVIDIA by 1.3% during the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock worth $1,092,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.