NVIDIA (NASDAQ:NVDA) Research Coverage Started at William Blair

by · The Cerbat Gem

William Blair started coverage on shares of NVIDIA (NASDAQ:NVDA – Free Report) in a research report released on Wednesday, Marketbeat Ratings reports. The firm issued an outperform rating on the computer hardware maker’s stock.

Other equities analysts have also recently issued reports about the stock. Loop Capital reaffirmed a buy rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Citigroup lifted their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Wolfe Research upped their price objective on NVIDIA from $120.00 to $125.00 and gave the company an outperform rating in a report on Thursday, May 23rd. New Street Research upgraded NVIDIA from a neutral rating to a buy rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $142.10.

Read Our Latest Stock Analysis on NVDA

NVIDIA Stock Down 1.6 %

NASDAQ NVDA opened at $116.00 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76. The stock has a market capitalization of $2.85 trillion, a P/E ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The stock has a fifty day moving average of $115.99 and a 200-day moving average of $106.97.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts forecast that NVIDIA will post 2.64 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans 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 will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.85, for a total value of $12,085,000.00. Following the transaction, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock worth $444,047,307 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC raised its position in shares of NVIDIA by 1,087.9% in the second quarter. Anchor Investment Management LLC now owns 72,927 shares of the computer hardware maker’s stock valued at $9,009,000 after buying an additional 66,788 shares in the last quarter. Cavalry Management Group LLC increased its stake in NVIDIA by 785.2% during the 2nd quarter. Cavalry Management Group LLC now owns 4,532 shares of the computer hardware maker’s stock worth $560,000 after acquiring an additional 4,020 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in NVIDIA by 2,556.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,605,913 shares of the computer hardware maker’s stock valued at $1,063,174,000 after acquiring an additional 8,281,902 shares in the last quarter. KP Management LLC lifted its position in shares of NVIDIA by 833.3% during the 2nd quarter. KP Management LLC now owns 140,000 shares of the computer hardware maker’s stock valued at $17,296,000 after acquiring an additional 125,000 shares during the period. Finally, Sensible Money LLC grew its holdings in shares of NVIDIA by 639.4% during the 2nd quarter. Sensible Money LLC now owns 4,407 shares of the computer hardware maker’s stock worth $544,000 after purchasing an additional 3,811 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

(Get Free Report)

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.

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