Cantor Fitzgerald Reaffirms Overweight Rating for NVIDIA (NASDAQ:NVDA)

Cantor Fitzgerald reaffirmed their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $175.00 price target on the computer hardware maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Craig Hallum lifted 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. Finally, Citigroup increased their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Down 3.2 %

NASDAQ:NVDA opened at $141.95 on Thursday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The company’s fifty day moving average price is $134.01 and its 200-day moving average price is $122.28. NVIDIA has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79.

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

NVIDIA announced that its board has initiated 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. increased its holdings in NVIDIA by 1.1% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 330,924 shares of the computer hardware maker’s stock worth $40,187,000 after purchasing an additional 3,586 shares during the period. Capstone Capital LLC grew its position in shares of NVIDIA by 27.3% during the third quarter. Capstone Capital LLC now owns 3,795 shares of the computer hardware maker’s stock worth $461,000 after buying an additional 815 shares in the last quarter. Eaton Financial Holdings Company LLC purchased a new stake in shares of NVIDIA during the third quarter worth approximately $3,894,000. Fulcrum Equity Management increased its stake in shares of NVIDIA by 20.4% during the third quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock worth $1,453,000 after buying an additional 2,031 shares during the period. Finally, Tudor Financial Inc. acquired a new stake in NVIDIA in the third quarter valued at approximately $1,440,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.