Bank of America Cuts NVIDIA (NASDAQ:NVDA) Price Target to $160.00

NVIDIA (NASDAQ:NVDA) had its price objective trimmed by Bank of America from $200.00 to $160.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup reduced their target price on shares of NVIDIA from $163.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Truist Financial increased their target price on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.64.

NVIDIA Stock Down 6.9 %

Shares of NASDAQ:NVDA opened at $104.49 on Wednesday. The business has a fifty day moving average of $117.83 and a two-hundred day moving average of $130.03. 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 stock has a market cap of $2.55 trillion, a P/E ratio of 41.12, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA has a 52-week low of $75.61 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. Wealth Group Ltd. increased its position in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares during the last quarter. Swedbank AB grew its stake in shares of NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Donaldson Capital Management LLC increased its holdings in shares of NVIDIA by 31.6% in the third quarter. Donaldson Capital Management LLC now owns 54,729 shares of the computer hardware maker’s stock valued at $6,646,000 after purchasing an additional 13,126 shares in the last quarter. Finally, Retirement Financial Solutions LLC boosted its position in NVIDIA by 3.2% in the 3rd quarter. Retirement Financial Solutions LLC now owns 3,489 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 109 shares during the last quarter. 65.27% of the stock is currently 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.