NVIDIA (NASDAQ:NVDA) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Friday morning, Benzinga reports. Wedbush currently has a $600.00 target price on the computer hardware maker’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $500.00 to $610.00 and gave the company a buy rating in a report on Thursday, August 24th. Robert W. Baird boosted their price objective on shares of NVIDIA from $570.00 to $750.00 and gave the company an outperform rating in a report on Thursday, August 24th. Phillip Securities upgraded shares of NVIDIA from an accumulate rating to a buy rating in a research report on Monday, August 28th. BNP Paribas upgraded shares of NVIDIA from a neutral rating to an outperform rating and set a $745.00 target price for the company in a research report on Thursday, August 24th. Finally, Truist Financial upped their price objective on shares of NVIDIA from $545.00 to $668.00 and gave the stock a buy rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of Moderate Buy and an average target price of $571.49.

NVIDIA Stock Performance

NASDAQ NVDA opened at $504.09 on Friday. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 121.76, a PEG ratio of 3.80 and a beta of 1.69. The company has a 50 day moving average of $445.22 and a 200-day moving average of $425.77. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA has a 1-year low of $138.84 and a 1-year high of $505.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. On average, equities analysts forecast that NVIDIA will post 9.66 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is currently 3.86%.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the transaction, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock valued at $67,606,089 over the last three months. Company insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently modified their holdings of the company. Nordwand Advisors LLC acquired a new position in shares of NVIDIA during the first quarter valued at $28,000. Peoples Financial Services CORP. acquired a new position in NVIDIA during the third quarter valued at approximately $30,000. Your Advocates Ltd. LLP acquired a new position in NVIDIA during the third quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new position in NVIDIA during the second quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in NVIDIA during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.