Wedbush Reiterates “Outperform” Rating for NVIDIA (NASDAQ:NVDA)

Wedbush reaffirmed their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Wednesday,Benzinga reports. Wedbush currently has a $175.00 price target on the computer hardware maker’s stock.

A number of other equities research analysts have also commented on NVDA. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Mizuho reduced their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $165.64.

NVIDIA Stock Down 6.9 %

NVIDIA stock opened at $104.49 on Wednesday. The firm has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The firm’s fifty day moving average price is $117.83 and its two-hundred day moving average price is $130.03. NVIDIA has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In related news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.