NVIDIA’s (NVDA) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Wednesday morning,Benzinga reports. Wedbush currently has a $175.00 price objective on the computer hardware maker’s stock.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson lowered their target price on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.51.

NVIDIA Price Performance

Shares of NVDA opened at $101.33 on Wednesday. The firm has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s 50-day moving average is $116.56 and its 200-day moving average is $129.78. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Equities analysts forecast that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. DiNuzzo Private Wealth Inc. grew its stake in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC raised its holdings in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC grew its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. Baker Boyer National Bank raised its holdings in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after acquiring an additional 76 shares during the last quarter. Finally, Kwmg LLC boosted its stake in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the last quarter. 65.27% of the stock is owned by 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.