Wedbush Reaffirms Outperform Rating for NVIDIA (NASDAQ:NVDA)

Wedbush reiterated their outperform rating on shares of NVIDIA (NASDAQ:NVDAFree Report) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $1,000.00 price target on the computer hardware maker’s stock.

Other equities analysts also recently issued reports about the company. Piper Sandler boosted their price objective on NVIDIA from $850.00 to $1,050.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $720.00 to $850.00 and gave the stock a hold rating in a research report on Wednesday, March 20th. CICC Research started coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They set an outperform rating and a $870.00 price objective on the stock. Sanford C. Bernstein upped their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. Finally, Loop Capital initiated coverage on shares of NVIDIA in a research note on Friday, February 16th. They set a buy rating and a $1,200.00 target price on the stock. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $966.55.

Get Our Latest Report on NVIDIA

NVIDIA Price Performance

Shares of NVDA opened at $924.79 on Thursday. NVIDIA has a 12 month low of $298.06 and a 12 month high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The stock has a fifty day moving average price of $882.98 and a 200 day moving average price of $685.57. The company has a market cap of $2.27 trillion, a P/E ratio of 77.45, a PEG ratio of 1.31 and a beta of 1.75.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, research analysts forecast that NVIDIA will post 22.9 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. 3.99% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently made changes to their positions in the business. Wealthspire Advisors LLC raised its stake in NVIDIA by 16.3% during the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock valued at $6,080,000 after purchasing an additional 1,724 shares during the last quarter. Grand Alliance Asset Management Ltd bought a new stake in shares of NVIDIA in the fourth quarter valued at about $29,961,000. TrueMark Investments LLC acquired a new stake in NVIDIA during the fourth quarter worth about $2,639,000. McLean Asset Management Corp increased its stake in NVIDIA by 11.7% during the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after acquiring an additional 186 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its holdings in NVIDIA by 5.7% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock valued at $1,931,000 after acquiring an additional 209 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

About NVIDIA

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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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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