NVIDIA (NASDAQ:NVDA) Cut to Neutral at Robert W. Baird

Robert W. Baird cut shares of NVIDIA (NASDAQ:NVDA – Get Rating) from an outperform rating to a neutral rating in a research report released on Monday, MarketBeat reports. Robert W. Baird currently has $225.00 price objective on the computer hardware maker’s stock, down from their previous price objective of $360.00.

Other equities analysts have also issued research reports about the stock. Credit Suisse Group reiterated a buy rating and set a $400.00 target price on shares of NVIDIA in a research report on Friday, March 18th. Citigroup reiterated a buy rating and set a $350.00 target price on shares of NVIDIA in a research report on Wednesday, March 23rd. Cowen restated an outperform rating and issued a $350.00 price objective on shares of NVIDIA in a research report on Tuesday, March 15th. Summit Insights lowered shares of NVIDIA from a buy rating to a hold rating in a research report on Thursday, February 17th. Finally, Truist Financial cut their price objective on shares of NVIDIA from $347.00 to $298.00 in a research report on Friday, April 8th. Six analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of Buy and a consensus target price of $327.00.

NASDAQ NVDA opened at $222.03 on Monday. NVIDIA has a 52-week low of $134.59 and a 52-week high of $346.47. The company has a 50-day simple moving average of $246.63 and a 200 day simple moving average of $260.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.05 and a current ratio of 6.65. The company has a market capitalization of $557.30 billion, a PE ratio of 57.71, a price-to-earnings-growth ratio of 2.93 and a beta of 1.42.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The computer hardware maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.13. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.43 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, analysts forecast that NVIDIA will post 4.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 3rd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Wednesday, March 2nd. NVIDIA’s dividend payout ratio (DPR) is presently 4.16%.

In related news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 292,340 shares of NVIDIA 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 disclosure for this sale can be found here. Insiders have sold 409,056 shares of company stock worth $101,135,342 over the last three months. Insiders own 4.23% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clifford Swan Investment Counsel LLC boosted its holdings in NVIDIA by 0.7% in the third quarter. Clifford Swan Investment Counsel LLC now owns 6,062 shares of the computer hardware maker’s stock valued at $1,566,000 after acquiring an additional 40 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in NVIDIA by 14.3% in the fourth quarter. Piscataqua Savings Bank now owns 320 shares of the computer hardware maker’s stock valued at $94,000 after acquiring an additional 40 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in NVIDIA by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 15,776 shares of the computer hardware maker’s stock valued at $4,639,000 after acquiring an additional 43 shares in the last quarter. Warren Averett Asset Management LLC boosted its holdings in shares of NVIDIA by 0.7% during the 3rd quarter. Warren Averett Asset Management LLC now owns 5,997 shares of the computer hardware maker’s stock valued at $1,822,000 after buying an additional 44 shares in the last quarter. Finally, Tranquility Partners LLC boosted its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Tranquility Partners LLC now owns 4,384 shares of the computer hardware maker’s stock valued at $1,290,000 after buying an additional 44 shares in the last quarter. 63.84% of the stock is currently owned by institutional investors.

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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