NVIDIA (NASDAQ:NVDA) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of NVIDIA (NASDAQ:NVDAFree Report) in a research report report published on Friday morning, Benzinga reports. Piper Sandler currently has a $620.00 price objective on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Mizuho increased their price objective on NVIDIA from $530.00 to $590.00 and gave the company a buy rating in a report on Thursday, August 24th. Barclays increased their price objective on NVIDIA from $600.00 to $650.00 and gave the company an overweight rating in a report on Thursday, August 24th. Wedbush reiterated an outperform rating and set a $600.00 price objective on shares of NVIDIA in a report on Friday. Stifel Nicolaus upgraded NVIDIA from a hold rating to a buy rating and increased their price objective for the company from $440.00 to $600.00 in a report on Thursday, August 24th. Finally, BMO Capital Markets increased their price objective on NVIDIA from $450.00 to $550.00 and gave the company an outperform rating in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of Moderate Buy and a consensus target price of $571.49.

View Our Latest Stock Report on NVDA

NVIDIA Stock Up 2.3 %

Shares of NASDAQ NVDA opened at $504.09 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.25 trillion, a PE ratio of 121.76, a price-to-earnings-growth ratio of 3.80 and a beta of 1.69. The stock’s fifty day simple moving average is $445.22 and its two-hundred day simple moving average is $425.77. NVIDIA has a 12-month low of $138.84 and a 12-month high of $505.48.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the transaction, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,232 shares of company stock worth $67,606,089. Insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. Nordwand Advisors LLC purchased a new stake in NVIDIA in the first quarter valued at approximately $28,000. Peoples Financial Services CORP. purchased a new stake in NVIDIA in the third quarter valued at approximately $30,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA in the third quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new position in shares of NVIDIA in the second quarter worth $34,000. Finally, Quarry LP acquired a new position in shares of NVIDIA in the first quarter worth $34,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

About NVIDIA

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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.

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