NVIDIA (NASDAQ:NVDA) Now Covered by Analysts at William Blair

William Blair began coverage on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating on the computer hardware maker’s stock.

A number of other research analysts have also recently commented on NVDA. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the company a buy rating in a research note on Thursday, August 29th. DA Davidson reaffirmed a neutral rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an outperform rating in a research note on Thursday, August 29th. Bank of America reaffirmed a buy rating and issued a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th. Finally, Needham & Company LLC lifted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $116.00 on Wednesday. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $115.99 and its 200 day simple moving average is $106.97. The firm has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, analysts anticipate that NVIDIA will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction 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 sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft grew its stake in shares of NVIDIA by 34.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after acquiring an additional 11,445 shares during the period. OMNI 360 Wealth Inc. bought a new position in NVIDIA during the fourth quarter worth about $240,000. Bedel Financial Consulting Inc. increased its stake in shares of NVIDIA by 10.7% in the fourth quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock worth $1,120,000 after purchasing an additional 219 shares in the last quarter. Integrity Wealth Solutions LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at approximately $1,661,000. Finally, BLB&B Advisors LLC lifted its stake in shares of NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after buying an additional 510,294 shares in the last quarter. Institutional investors 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.