NVIDIA (NASDAQ:NVDA) Earns Buy Rating from Analysts at Redburn Atlantic

Redburn Atlantic began coverage on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $178.00 target price on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. UBS Group raised their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Raymond James raised their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Mizuho lifted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

NVIDIA Trading Up 2.1 %

NASDAQ:NVDA opened at $148.29 on Tuesday. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 69.55, a PEG ratio of 1.53 and a beta of 1.66. 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 business has a fifty day moving average of $127.79 and a 200-day moving average of $118.90. NVIDIA has a 1 year low of $45.01 and a 1 year high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities analysts predict that NVIDIA will post 2.66 earnings per share for the current year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently modified their holdings of NVDA. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after acquiring an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.