NVIDIA (NASDAQ:NVDA) Given New $200.00 Price Target at HSBC

NVIDIA (NASDAQ:NVDA) had its price target upped by HSBC from $145.00 to $200.00 in a research note issued to investors on Thursday,Benzinga reports. HSBC currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. The Goldman Sachs Group raised their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Finally, Truist Financial raised their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Trading Down 3.3 %

NASDAQ:NVDA opened at $141.98 on Thursday. The company has a market capitalization of $3.48 trillion, a P/E ratio of 66.60, a PEG ratio of 1.49 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA has a 12 month low of $45.01 and a 12 month high of $149.77. The firm has a fifty day simple moving average of $130.97 and a 200-day simple moving average of $120.58.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA will post 2.67 earnings per share for the current year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the 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 sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % 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 worth $254,784,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors 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.