NVIDIA (NASDAQ:NVDA) Stock Rating Upgraded by Summit Insights

Summit Insights upgraded shares of NVIDIA (NASDAQ:NVDA) from a hold rating to a buy rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also commented on NVDA. TD Cowen lowered their price objective on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday. Raymond James restated a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $171.66.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $139.19 on Thursday. The business’s 50 day moving average price is $115.20 and its 200 day moving average price is $126.61. The firm has a market cap of $3.40 trillion, a P/E ratio of 54.78, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA has a 52 week low of $86.62 and a 52 week high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, sell-side analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.17% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. Nuveen LLC acquired a new position in NVIDIA in the 1st quarter valued at about $15,089,414,000. Goldman Sachs Group Inc. grew its position in NVIDIA by 123.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after acquiring an additional 103,889,872 shares in the last quarter. GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.