NVIDIA (NASDAQ:NVDA) Receives “Neutral” Rating from DA Davidson

DA Davidson restated their neutral rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Thursday,Benzinga reports. They currently have a $135.00 target price on the computer hardware maker’s stock.

A number of other analysts have also recently issued reports on the company. UBS Group lifted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, February 20th. Finally, Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Stock Down 8.5 %

NVDA stock opened at $120.15 on Thursday. The company’s 50 day simple moving average is $134.39 and its 200-day simple moving average is $131.81. The firm has a market capitalization of $2.94 trillion, a P/E ratio of 47.28, a P/E/G ratio of 1.76 and a beta of 1.62. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at about $43,515,504,000. International Assets Investment Management LLC increased its stake in shares of NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $4,589,905,000. Northern Trust Corp boosted its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Institutional investors and hedge funds 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.