Bank of America Reiterates Buy Rating for NVIDIA (NASDAQ:NVDA)

Bank of America reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $200.00 price target on the computer hardware maker’s stock.

Other research analysts have also issued research reports about the company. HSBC reduced their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Truist Financial upped their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Price Performance

Shares of NVDA opened at $117.70 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.87 trillion, a P/E ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13. The stock has a fifty day moving average price of $126.92 and a 200 day moving average price of $131.02.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th 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 of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is 1.36%.

Insider Activity

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

Institutional Trading of NVIDIA

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in NVIDIA during the 4th quarter worth about $43,515,504,000. International Assets Investment Management LLC lifted its holdings in NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new position in NVIDIA in the 3rd quarter valued at $4,589,905,000. Northern Trust Corp increased its stake in shares of 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 buying an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Institutional investors and hedge funds 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.