Piper Sandler Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price target lowered by Piper Sandler from $175.00 to $150.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of NVIDIA from $163.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. TD Cowen lowered their price objective on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.51.

NVIDIA Trading Down 3.0 %

NVDA stock opened at $101.33 on Wednesday. NVIDIA has a twelve month low of $75.61 and a twelve month high of $195.95. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $116.56 and its two-hundred day simple moving average is $129.78.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced 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. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVDA. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC lifted its position 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 worth $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Clear Street Derivatives LLC acquired a new position in NVIDIA during the third quarter worth $4,589,905,000. Northern Trust Corp grew its holdings 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 raised its holdings in shares of NVIDIA by 14,641.2% during 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 acquiring an additional 34,441,082 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.