NVIDIA’s (NVDA) “Overweight” Rating Reiterated at KeyCorp

KeyCorp reiterated their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Wednesday morning, Marketbeat.com reports.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Mizuho lowered their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $117.70 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm has a 50 day moving average of $126.92 and a 200 day moving average of $131.02. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the company’s 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 sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.