Redburn Atlantic Begins Coverage on NVIDIA (NASDAQ:NVDA)

Redburn Atlantic initiated coverage on shares of NVIDIA (NASDAQ:NVDA) in a report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $178.00 price target on the computer hardware maker’s stock.

NVDA has been the topic of a number of other research reports. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. HSBC boosted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Price Performance

NVIDIA stock opened at $141.98 on Tuesday. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. The firm’s fifty day moving average is $130.18 and its 200 day moving average is $119.70. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % 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 in the last three months. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Hedge funds have recently modified their holdings of the stock. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares in the last quarter. Curran Financial Partners LLC boosted its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC grew its holdings in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares in the last quarter. Poehling Capital Management INC. raised its position 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 valued at $1,442,000 after buying an additional 14 shares during the last quarter. Finally, FSA Wealth Management LLC lifted 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 buying an additional 14 shares in the last quarter. Hedge funds and other 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.