NVIDIA’s (NVDA) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note published on Wednesday morning, MarketBeat reports. Benchmark currently has a $190.00 target price on the computer hardware maker’s stock.

A number of other equities research analysts have also recently issued reports on NVDA. DA Davidson reaffirmed a “neutral” rating and set a $135.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $162.00 target price (up previously from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. HSBC decreased their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Performance

Shares of NVDA opened at $117.70 on Wednesday. The firm has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company’s fifty day moving average is $126.92 and its 200-day moving average is $131.02. 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 has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Equities analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Activity at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value 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. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock valued at $22,117,015 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB lifted its position in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the period. Wealth Group Ltd. raised its stake in shares of NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares during the period. Swedbank AB boosted 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 valued at $4,965,526,000 after acquiring an additional 1,868,358 shares during the last quarter. Finally, Cascade Investment Group Inc. grew its holdings in NVIDIA by 57.6% during the 3rd quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock worth $956,000 after acquiring an additional 2,878 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.