Bank of America Issues Pessimistic Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Free Report) had its price objective cut by Bank of America from $200.00 to $160.00 in a report published on Wednesday, MarketBeat reports. They currently have a buy rating on the computer hardware maker's stock.

NVDA has been the subject of a number of other research reports. Susquehanna reiterated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Tigress Financial restated a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Mizuho reduced their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Six 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.51.

NVIDIA Price Performance

Shares of NVDA traded down $3.16 on Wednesday, hitting $101.33. The company's stock had a trading volume of 290,593,259 shares, compared to its average volume of 312,017,771. The company has a 50 day moving average price of $117.19 and a 200 day moving average price of $129.89. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. On average, research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued 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%.

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company's stock.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. FMR LLC lifted its holdings in NVIDIA by 0.7% in the fourth 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 increased its holdings in shares of NVIDIA by 1.7% during the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of NVIDIA by 0.9% in the 4th 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 period. Norges Bank purchased a new stake in NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% during the fourth 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. 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.