Wedbush Reaffirms "Outperform" Rating for NVIDIA (NASDAQ:NVDA)

Wedbush reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA - Free Report) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $175.00 price objective on the computer hardware maker's stock.

A number of other equities analysts also recently weighed in on NVDA. Mizuho cut their target price on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. DA Davidson lowered their price objective on NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $165.51.

NVIDIA Trading Down 3.0 %

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

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 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 firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, analysts forecast that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business 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. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % 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 valued at $17,133,207. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Wealth Group Ltd. increased its position in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker's stock worth $680,000 after purchasing an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after purchasing an additional 350 shares during the period. Swedbank AB lifted its stake in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after acquiring an additional 1,868,358 shares during the period. Donaldson Capital Management LLC lifted its position in shares of NVIDIA by 31.6% in the 3rd quarter. Donaldson Capital Management LLC now owns 54,729 shares of the computer hardware maker's stock worth $6,646,000 after purchasing an additional 13,126 shares during the period. Finally, Retirement Financial Solutions LLC boosted its position in NVIDIA by 3.2% during the 3rd quarter. Retirement Financial Solutions LLC now owns 3,489 shares of the computer hardware maker's stock valued at $424,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

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.