Morgan Stanley Reiterates “Overweight” Rating for NVIDIA (NASDAQ:NVDA)

Morgan Stanley restated their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Thursday, Benzinga reports. They currently have a $150.00 price objective on the computer hardware maker’s stock.

Several other brokerages have also issued reports on NVDA. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Benchmark restated a buy rating and set a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp boosted their price target on NVIDIA from $130.00 to $180.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. UBS Group restated a buy rating and set a $150.00 price target on shares of NVIDIA in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an overweight rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and a consensus price target of $142.46.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $0.60 during trading on Thursday, reaching $135.41. The company’s stock had a trading volume of 52,722,189 shares, compared to its average volume of 421,745,594. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business’s fifty day moving average price is $117.99 and its 200-day moving average price is $110.34. The firm has a market cap of $3.32 trillion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that NVIDIA will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has initiated a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the completion of the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at approximately $10,171,142,755.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark A. Stevens sold 125,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,201,270 shares of company stock worth $371,285,277. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently modified their holdings of the business. Sunflower Bank N.A. lifted its stake in NVIDIA by 6.2% in the 3rd quarter. Sunflower Bank N.A. now owns 18,820 shares of the computer hardware maker’s stock valued at $2,286,000 after purchasing an additional 1,097 shares during the last quarter. Stonekeep Investments LLC lifted its stake in NVIDIA by 1.1% in the 3rd quarter. Stonekeep Investments LLC now owns 19,494 shares of the computer hardware maker’s stock valued at $2,367,000 after purchasing an additional 213 shares during the last quarter. Sound Income Strategies LLC lifted its stake in NVIDIA by 7.4% in the 3rd quarter. Sound Income Strategies LLC now owns 40,188 shares of the computer hardware maker’s stock valued at $4,880,000 after purchasing an additional 2,783 shares during the last quarter. CVA Family Office LLC lifted its stake in NVIDIA by 2.2% in the 3rd quarter. CVA Family Office LLC now owns 53,986 shares of the computer hardware maker’s stock valued at $6,556,000 after purchasing an additional 1,160 shares during the last quarter. Finally, JBR Co Financial Management Inc lifted its stake in NVIDIA by 1.6% in the 3rd quarter. JBR Co Financial Management Inc now owns 197,534 shares of the computer hardware maker’s stock valued at $23,988,000 after purchasing an additional 3,180 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.