NVIDIA’s (NVDA) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $175.00 price target on the computer hardware maker’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Rosenblatt Securities lifted their price target on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $173.05.

NVIDIA Price Performance

NVDA stock opened at $145.48 on Monday. The company has a market capitalization of $3.55 trillion, a P/E ratio of 46.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA has a 52-week low of $86.62 and a 52-week high of $153.13. The business has a 50-day simple moving average of $124.96 and a two-hundred day simple moving average of $126.62.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. Research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,540,845 shares of company stock valued at $357,983,449 in the last 90 days. Corporate insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently added to or reduced their stakes in NVDA. DiNuzzo Private Wealth Inc. lifted its position in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Baker Boyer National Bank increased its position in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. Elevate Wealth Advisory Inc. raised its stake in shares of NVIDIA by 1.7% during the first quarter. Elevate Wealth Advisory Inc. now owns 4,617 shares of the computer hardware maker’s stock valued at $500,000 after acquiring an additional 77 shares during the last quarter. SC&H Financial Advisors Inc. boosted its holdings in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after purchasing an additional 80 shares during the period. Finally, DecisionPoint Financial LLC lifted its holdings in NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after buying an additional 80 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.