NVIDIA (NASDAQ:NVDA) Upgraded by TD Cowen to “Strong-Buy”

by · The Markets Daily

TD Cowen upgraded shares of NVIDIA (NASDAQ:NVDA – Free Report) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

Several other equities analysts have also issued reports on the company. StockNews.com lowered NVIDIA from a strong-buy rating to a hold rating in a report on Tuesday, June 18th. Argus upped their price objective on NVIDIA from $110.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, June 11th. Truist Financial boosted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a buy rating in a report on Tuesday, August 27th. DZ Bank downgraded shares of NVIDIA from a buy rating to a hold rating and set a $102.50 price objective for the company. in a report on Friday, May 24th. Finally, Needham & Company LLC increased their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a buy rating in a research report on Thursday, August 29th. Five research 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, NVIDIA has a consensus rating of Moderate Buy and an average target price of $142.10.

Check Out Our Latest Research Report on NVDA

NVIDIA Trading Up 4.0 %

Shares of NVIDIA stock opened at $117.87 on Monday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $116.25 and a 200 day simple moving average of $106.75. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a market capitalization of $2.90 trillion, a P/E ratio of 68.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

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

NVIDIA Cuts Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 2.34%.

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

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,621,133 shares of company stock worth $435,749,957. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at $27,000. Hedge funds and other institutional investors 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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