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

Wedbush reissued their neutral rating on shares of NVIDIA (NASDAQ:NVDA – Get Rating) in a report published on Thursday, Benzinga reports. The brokerage currently has a $216.00 price objective on the computer hardware maker’s stock.

A number of other research firms also recently weighed in on NVDA. Evercore ISI upped their target price on NVIDIA from $245.00 to $300.00 in a report on Thursday, February 23rd. KeyCorp upped their target price on NVIDIA from $220.00 to $280.00 and gave the stock an overweight rating in a report on Friday, February 17th. Susquehanna Bancshares upped their target price on NVIDIA from $180.00 to $185.00 and gave the stock a positive rating in a report on Thursday, November 17th. Bank of America upped their target price on NVIDIA from $255.00 to $275.00 and gave the stock a buy rating in a report on Thursday, February 23rd. Finally, Jefferies Financial Group upped their target price on NVIDIA from $275.00 to $300.00 and gave the stock a buy rating in a report on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $245.32.

NVIDIA Trading Up 0.7 %

NVDA opened at $257.25 on Thursday. The business has a 50 day simple moving average of $210.84 and a two-hundred day simple moving average of $167.00. The firm has a market capitalization of $635.41 billion, a price-to-earnings ratio of 147.84, a PEG ratio of 4.53 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.52 and a quick ratio of 2.73. NVIDIA has a one year low of $108.13 and a one year high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the company posted $1.14 EPS. NVIDIA’s quarterly revenue was down 20.8% compared to the same quarter last year. Analysts predict that NVIDIA will post 3.21 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. NVIDIA’s payout ratio is 9.20%.

Insider Activity

In other news, CFO Colette Kress sold 6,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the transaction, the chief financial officer now directly owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Dabiri sold 293 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $165.80, for a total value of $48,579.40. Following the transaction, the director now directly owns 2,417 shares of the company’s stock, valued at approximately $400,738.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 6,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The disclosure for this sale can be found here. Insiders have sold 293,066 shares of company stock valued at $51,229,679 in the last ninety days. 4.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Vanguard Group Inc. increased its stake in NVIDIA by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock worth $24,732,878,000 after buying an additional 2,326,387 shares in the last quarter. State Street Corp increased its stake in NVIDIA by 0.9% in the 3rd quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after buying an additional 908,481 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after buying an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC increased its stake in NVIDIA by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock worth $6,679,427,000 after buying an additional 692,636 shares in the last quarter. Finally, Morgan Stanley increased its stake in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

About NVIDIA

(Get Rating)

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.