Phillip Securities Reiterates Accumulate Rating for NVIDIA (NASDAQ:NVDA)

Phillip Securities reiterated their accumulate rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $160.00 target price on the computer hardware maker’s stock, up from their prior target price of $155.00.

NVDA has been the subject of several other research reports. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley boosted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday. Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Craig Hallum boosted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

NASDAQ:NVDA opened at $141.95 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company has a 50 day moving average price of $134.01 and a 200-day moving average price of $122.51. NVIDIA has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Equities research analysts forecast that NVIDIA will post 2.68 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth approximately $27,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the first quarter worth approximately $82,000. Delos Wealth Advisors LLC raised its holdings in NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares in the last quarter. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the second quarter worth approximately $25,000. 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.