Piper Sandler Lowers NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA - Free Report) had its price target cut by Piper Sandler from $175.00 to $150.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the computer hardware maker's stock.

Other research analysts also recently issued research reports about the company. Raymond James dropped their price objective on NVIDIA from $170.00 to $150.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, TD Cowen reduced their price objective on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $165.51.

NVIDIA Stock Down 3.0 %

NVDA traded down $3.16 during trading hours on Wednesday, hitting $101.33. 290,593,259 shares of the company's stock were exchanged, compared to its average volume of 312,017,771. 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 has a 12-month low of $75.61 and a 12-month high of $195.95. The firm has a market cap of $2.47 trillion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The firm has a 50 day moving average of $116.56 and a 200 day moving average of $129.78.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share 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 company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the business. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the 4th quarter worth $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the fourth quarter valued at $46,000. 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.