NVIDIA (NASDAQ:NVDA) Issues Earnings Results

NVIDIA (NASDAQ:NVDA – Get Rating) posted its quarterly earnings data on Wednesday. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, RTT News reports. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share.

NVIDIA Stock Up 0.9 %

Shares of NVDA traded up $3.29 during trading hours on Friday, hitting $383.09. The company had a trading volume of 20,233,860 shares, compared to its average volume of 47,299,133. The company has a market capitalization of $947.43 billion, a PE ratio of 197.81, a price-to-earnings-growth ratio of 5.31 and a beta of 1.77. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. NVIDIA has a one year low of $108.13 and a one year high of $394.80. The company’s fifty day moving average price is $280.52 and its two-hundred day moving average price is $218.29.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s payout ratio is 8.33%.

Insider Transactions at NVIDIA

In other news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Mark L. Perry sold 20,000 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the sale, the director now owns 140,000 shares in the company, valued at approximately $33,091,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. In the last three months, insiders sold 54,084 shares of company stock valued at $14,516,510. Corporate insiders own 3.99% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after buying an additional 267,061 shares during the last quarter. Morgan Stanley boosted its position in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. Norges Bank purchased a new position in NVIDIA during the fourth quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its position in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NVIDIA by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock worth $3,347,921,000 after purchasing an additional 243,671 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVDA shares. JPMorgan Chase & Co. increased their price objective on NVIDIA from $250.00 to $500.00 in a report on Thursday. Wells Fargo & Company raised their target price on NVIDIA from $320.00 to $450.00 in a research report on Thursday. Stifel Nicolaus raised their target price on NVIDIA from $225.00 to $300.00 in a research report on Tuesday. Sanford C. Bernstein raised their target price on NVIDIA from $300.00 to $475.00 in a research report on Thursday. Finally, BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price objective on the stock in a research note on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.13.

NVIDIA Company Profile

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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.