NVIDIA Co. (NASDAQ:NVDA – Get Rating) – Investment analysts at KeyCorp reduced their Q1 2024 earnings per share (EPS) estimates for NVIDIA in a research note issued on Tuesday, April 12th. KeyCorp analyst J. Vinh now anticipates that the computer hardware maker will post earnings of $1.16 per share for the quarter, down from their prior forecast of $1.21. KeyCorp currently has a “Overweight” rating and a $310.00 target price on the stock. KeyCorp also issued estimates for NVIDIA’s Q2 2024 earnings at $1.29 EPS, Q3 2024 earnings at $1.48 EPS and Q4 2024 earnings at $1.48 EPS.
Several other brokerages have also weighed in on NVDA. Rosenblatt Securities reiterated a “buy” rating and set a $400.00 price objective on shares of NVIDIA in a report on Thursday, February 17th. Mizuho increased their price objective on shares of NVIDIA from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, February 17th. Cowen reissued an “outperform” rating and set a $350.00 target price on shares of NVIDIA in a research report on Tuesday, March 15th. Citigroup reissued a “buy” rating and set a $350.00 target price on shares of NVIDIA in a research report on Wednesday, March 23rd. Finally, Credit Suisse Group reissued a “buy” rating and set a $400.00 target price on shares of NVIDIA in a research report on Friday, March 18th. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $330.77.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings data on Wednesday, February 16th. The computer hardware maker reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.13. The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.43 billion. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The company’s revenue was up 52.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Marquette Asset Management LLC lifted its stake in NVIDIA by 300.0% during the third quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 90 shares during the last quarter. HBC Financial Services PLLC lifted its stake in NVIDIA by 300.0% in the third quarter. HBC Financial Services PLLC now owns 120 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 90 shares during the last quarter. Disciplined Investments LLC bought a new stake in NVIDIA in the fourth quarter valued at $25,000. Rather & Kittrell Inc. bought a new stake in NVIDIA in the fourth quarter valued at $26,000. Finally, First Personal Financial Services lifted its stake in NVIDIA by 366.7% in the third quarter. First Personal Financial Services now owns 140 shares of the computer hardware maker’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.
In related news, CEO Jen Hsun Huang sold 292,340 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $237.12, for a total transaction of $69,319,660.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure for this sale can be found here. Insiders have sold 409,056 shares of company stock valued at $101,135,342 in the last three months. Corporate insiders own 4.23% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Wednesday, March 2nd. NVIDIA’s payout ratio is currently 4.16%.
NVIDIA Company Profile (Get Rating)
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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