TD Cowen Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price target upped by TD Cowen from $165.00 to $175.00 in a research report report published on Thursday, MarketBeat.com reports. They currently have a buy rating on the computer hardware maker’s stock.

Several other analysts have also recently commented on NVDA. Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Citigroup boosted their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 3.2 %

NVDA stock opened at $141.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. The business has a fifty day moving average price of $134.01 and a 200 day moving average price of $122.28. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

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

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. increased its holdings in shares of NVIDIA by 1.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 330,924 shares of the computer hardware maker’s stock valued at $40,187,000 after purchasing an additional 3,586 shares during the last quarter. Capstone Capital LLC raised its holdings in NVIDIA by 27.3% in the 3rd quarter. Capstone Capital LLC now owns 3,795 shares of the computer hardware maker’s stock valued at $461,000 after acquiring an additional 815 shares during the period. Eaton Financial Holdings Company LLC acquired a new stake in NVIDIA during the third quarter worth approximately $3,894,000. Fulcrum Equity Management boosted its holdings in shares of NVIDIA by 20.4% during the third quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock worth $1,453,000 after acquiring an additional 2,031 shares during the period. Finally, Tudor Financial Inc. acquired a new position in shares of NVIDIA in the third quarter valued at approximately $1,440,000. Institutional investors 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.