NVIDIA (NASDAQ:NVDA) Stock Rating Lowered by Summit Insights

Summit Insights downgraded shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat reports.

Other research analysts also recently issued reports about the company. Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Morgan Stanley restated an “overweight” rating and issued a $162.00 price target (up from $152.00) on shares of NVIDIA in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Five investment 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Trading Up 3.9 %

Shares of NVDA opened at $124.81 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 1 year low of $75.61 and a 1 year high of $153.13. The company has a 50 day simple moving average of $134.19 and a two-hundred day simple moving average of $132.03. The firm has a market cap of $3.05 trillion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock worth $146,405,286 over the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently modified their holdings of NVDA. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter worth about $27,000. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the second quarter worth about $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter worth about $36,000. Hedge funds and other institutional investors 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.