NVIDIA (NASDAQ:NVDA) Receives Overweight Rating from KeyCorp

KeyCorp reaffirmed their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Wednesday, MarketBeat reports.

Other equities analysts have also issued research reports about the company. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. DA Davidson restated a “neutral” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Thursday, February 27th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Down 0.7 %

NVDA stock opened at $117.70 on Wednesday. The stock has a market cap of $2.87 trillion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm’s 50-day simple moving average is $126.92 and its 200 day simple moving average is $131.02. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. 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 announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts predict that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued 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 currently 1.36%.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,109 shares of company stock worth $22,117,015. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Hoertkorn Richard Charles lifted its position in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its position in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC lifted its holdings in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares during the period. Palisade Asset Management LLC boosted its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank boosted its position in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 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.