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

Oppenheimer reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $1,100.00 price target on the computer hardware maker’s stock.

Other analysts have also issued reports about the stock. Argus boosted their price target on shares of NVIDIA from $950.00 to $1,100.00 and gave the stock a buy rating in a research note on Thursday. UBS Group upped their target price on shares of NVIDIA from $1,150.00 to $1,200.00 and gave the stock a buy rating in a research note on Thursday. Piper Sandler raised their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the company an overweight rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on NVIDIA from $850.00 to $1,150.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Barclays lifted their target price on NVIDIA from $850.00 to $1,100.00 and gave the company an overweight rating in a report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $1,123.49.

NVIDIA Price Performance

NVIDIA stock opened at $1,064.69 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. The company has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 89.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.75. The company’s 50 day simple moving average is $893.19 and its 200-day simple moving average is $704.65. NVIDIA has a 1 year low of $366.35 and a 1 year high of $1,064.75.

Shares of NVIDIA are set to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be issued to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping the consensus estimate of $5.14 by $0.98. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. As a group, equities research analysts expect that NVIDIA will post 23.18 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,278 shares of company stock valued at $44,714,198. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth $14,606,369,000. Northern Trust Corp grew its stake in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after purchasing an additional 910,009 shares during the period. International Assets Investment Management LLC increased its holdings in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after buying an additional 388,851 shares in the last quarter. Institutional investors and hedge funds 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.