NVIDIA (NASDAQ:NVDA) Earns Neutral Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $135.00 price target on the computer hardware maker’s stock.

Several other research analysts have also issued reports on NVDA. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Evercore ISI upped their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Finally, UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $120.15 on Thursday. The stock has a fifty day moving average price of $134.39 and a 200-day moving average price of $131.81. The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the 3rd quarter valued at about $27,000. Tacita Capital Inc bought a new stake in NVIDIA during the fourth quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of NVIDIA in the 3rd quarter worth approximately $36,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.