NVIDIA (NASDAQ:NVDA) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

NVIDIA (NASDAQ:NVDAGet Rating) issued its quarterly earnings data on Wednesday. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07, MarketWatch Earnings reports. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the business posted $0.78 earnings per share. The firm’s revenue was up 46.4% compared to the same quarter last year. NVIDIA updated its Q2 2023 guidance to EPS.

Shares of NVDA stock traded up $8.21 during mid-day trading on Wednesday, hitting $169.75. 77,465,048 shares of the stock were exchanged, compared to its average volume of 55,507,867. The company has a market cap of $494.44 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 2.16 and a beta of 1.59. NVIDIA has a 52-week low of $154.60 and a 52-week high of $346.47. The firm has a fifty day moving average of $215.65 and a 200 day moving average of $252.17. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 9th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. NVIDIA’s payout ratio is currently 4.16%.

A number of equities research analysts recently issued reports on NVDA shares. Wells Fargo & Company lowered their price objective on NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. KeyCorp reduced their target price on NVIDIA from $350.00 to $310.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 12th. Susquehanna Bancshares dropped their price target on NVIDIA from $320.00 to $280.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Barclays reduced their price objective on NVIDIA from $350.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Citigroup upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Wednesday, April 13th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $306.79.

In other news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $274.06, for a total transaction of $27,406,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 292,340 shares of NVIDIA stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $237.12, for a total value of $69,319,660.80. The disclosure for this sale can be found here. Insiders sold a total of 409,056 shares of company stock worth $101,135,342 over the last ninety days. 4.47% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of NVIDIA by 294.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,476,208 shares of the computer hardware maker’s stock valued at $5,070,488,000 after purchasing an additional 18,277,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of NVIDIA by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock valued at $3,347,921,000 after purchasing an additional 243,671 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of NVIDIA by 5.1% in the 1st quarter. First Trust Advisors LP now owns 1,377,253 shares of the computer hardware maker’s stock valued at $375,797,000 after purchasing an additional 66,852 shares during the last quarter. American International Group Inc. lifted its stake in shares of NVIDIA by 296.1% in the 3rd quarter. American International Group Inc. now owns 966,474 shares of the computer hardware maker’s stock valued at $200,215,000 after purchasing an additional 722,447 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of NVIDIA by 5.4% in the 1st quarter. Mariner LLC now owns 717,965 shares of the computer hardware maker’s stock valued at $195,906,000 after purchasing an additional 36,511 shares during the last quarter. Institutional investors own 55.19% of the company’s stock.

NVIDIA Company Profile (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Earnings History for NVIDIA (NASDAQ:NVDA)

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