Oppenheimer Increases NVIDIA (NASDAQ:NVDA) Price Target to $175.00

NVIDIA (NASDAQ:NVDA) had its price target raised by Oppenheimer from $150.00 to $175.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the computer hardware maker’s stock.

Other equities analysts have also issued reports about the company. Evercore ISI boosted their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. UBS Group lifted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday. Finally, Robert W. Baird boosted their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Price Performance

Shares of NVDA stock traded down $4.78 during trading hours on Thursday, hitting $141.98. 246,946,036 shares of the company’s stock were exchanged, compared to its average volume of 399,397,188. The stock’s 50-day moving average is $130.18 and its 200-day moving average is $119.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA has a 52 week low of $45.01 and a 52 week high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. As a group, research analysts forecast that NVIDIA will post 2.66 EPS for the current year.

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically 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 was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hamilton Wealth LLC grew its stake in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Curran Financial Partners LLC grew its stake in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares in the last quarter. Poehling Capital Management INC. grew its stake in shares of NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after acquiring an additional 14 shares in the last quarter. Finally, FSA Wealth Management LLC grew its stake in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.