NVIDIA (NASDAQ:NVDA) Lowered to “Hold” Rating by Summit Insights

Summit Insights cut shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a report issued on Thursday morning, MarketBeat.com reports.

A number of other research firms have also issued reports on NVDA. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Melius Research boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Raymond James raised their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Stock Performance

NVIDIA stock opened at $120.15 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a fifty day moving average price of $134.39 and a two-hundred day moving average price of $131.81. The company has a market cap of $2.94 trillion, a PE ratio of 47.28, a P/E/G ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Research analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,107,632 shares of company stock worth $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth approximately $27,000. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter worth $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the 2nd quarter worth $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter valued at $34,000. Finally, Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter worth $38,000. 65.27% of the stock is currently owned by 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.