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

Oppenheimer reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Monday morning,Benzinga reports. Oppenheimer currently has a $175.00 price objective on the computer hardware maker’s stock.

Other analysts have also recently issued research reports about the company. Barclays restated an “overweight” rating and issued a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. TD Cowen lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Citigroup restated a “buy” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $172.24.

NVIDIA Trading Up 1.9%

Shares of NVDA stock opened at $144.69 on Monday. NVIDIA has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The stock has a market cap of $3.53 trillion, a P/E ratio of 56.94, a P/E/G ratio of 1.76 and a beta of 2.12. The business has a fifty day simple moving average of $123.74 and a 200-day simple moving average of $126.36. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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). The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. On average, analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock worth $360,351,849 in the last three months. 4.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at $40,000. Kathleen S. Wright Associates Inc. lifted its holdings in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. Finally, Copia Wealth Management purchased a new stake in shares of NVIDIA during the fourth quarter valued at $50,000. 65.27% of the stock is currently owned by 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.