NVIDIA (NASDAQ:NVDA) Price Target Cut to $160.00 by Analysts at Bank of America

NVIDIA (NASDAQ:NVDA) had its price target trimmed by Bank of America from $200.00 to $160.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Mizuho reduced their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.64.

NVIDIA Trading Down 6.9 %

NVDA stock opened at $104.49 on Wednesday. NVIDIA has a one year low of $75.61 and a one year high of $195.95. The company has a market capitalization of $2.55 trillion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company’s 50 day moving average price is $117.83 and its two-hundred day moving average price is $130.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) 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. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date 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%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated 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 $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated 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 sale, 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. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA during the fourth quarter worth approximately $43,515,504,000. GAMMA Investing LLC lifted its holdings in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA during the third quarter worth about $4,589,905,000. Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the 4th 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 in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.