NVIDIA’s (NVDA) “Buy” Rating Reaffirmed at Bank of America

Bank of America reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a $200.00 price target on the computer hardware maker’s stock.

Other research analysts have also recently issued reports about the company. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Evercore ISI increased their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $171.76.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $117.52 on Wednesday. NVIDIA has a twelve month low of $75.61 and a twelve month high of $153.13. 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 stock’s 50-day simple moving average is $127.71 and its 200 day simple moving average is $131.12. The firm has a market capitalization of $2.87 trillion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVDA. M1 Capital Management LLC bought a new stake in NVIDIA in the 4th quarter worth about $1,514,000. DSG Capital Advisors LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $17,052,000. Chancellor Financial Group WB LP purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $3,966,000. Triton Wealth Management PLLC lifted its holdings in NVIDIA by 4.6% during the fourth quarter. Triton Wealth Management PLLC now owns 51,074 shares of the computer hardware maker’s stock worth $7,469,000 after acquiring an additional 2,259 shares during the period. Finally, 111 Capital purchased a new position in NVIDIA in the fourth quarter worth $17,419,000. 65.27% of the stock is owned by institutional investors.

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.