Cantor Fitzgerald Reiterates “Overweight” Rating for NVIDIA (NASDAQ:NVDA)

Cantor Fitzgerald restated their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Tuesday, Benzinga reports. They currently have a $175.00 target price on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. Piper Sandler reissued an overweight rating and issued a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. Citigroup raised their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, August 29th. Finally, Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the company a buy rating in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $142.10.

NVIDIA Trading Up 4.0 %

NVDA opened at $132.89 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock’s 50 day moving average price is $116.58 and its 200-day moving average price is $109.74. NVIDIA has a one year low of $39.23 and a one year high of $140.76. The stock has a market cap of $3.27 trillion, a price-to-earnings ratio of 77.71, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts forecast that NVIDIA will post 2.65 EPS for the current year.

NVIDIA declared that its board has initiated a share 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,577,403 shares of company stock worth $420,166,534. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bellevue Group AG purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $49,000. Visionary Wealth Advisors boosted its stake in NVIDIA by 3.0% during the 4th quarter. Visionary Wealth Advisors now owns 7,413 shares of the computer hardware maker’s stock worth $3,671,000 after purchasing an additional 216 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of NVIDIA by 6.0% during the fourth quarter. Hancock Whitney Corp now owns 54,276 shares of the computer hardware maker’s stock worth $26,879,000 after buying an additional 3,084 shares in the last quarter. Northwest Wealth Management LLC raised its position in shares of NVIDIA by 1.5% in the fourth quarter. Northwest Wealth Management LLC now owns 1,969 shares of the computer hardware maker’s stock valued at $975,000 after buying an additional 30 shares during the last quarter. Finally, Ethic Inc. lifted its stake in shares of NVIDIA by 6.1% in the fourth quarter. Ethic Inc. now owns 163,511 shares of the computer hardware maker’s stock worth $80,974,000 after buying an additional 9,461 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.