NVIDIA (NASDAQ:NVDA) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of NVIDIA (NASDAQ:NVDA) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $1,160.00 target price on the computer hardware maker’s stock.

Several other analysts also recently commented on the company. Tigress Financial upped their price objective on NVIDIA from $790.00 to $985.00 and gave the company a buy rating in a research note on Thursday, February 29th. Truist Financial increased their target price on NVIDIA from $911.00 to $1,177.00 and gave the stock a buy rating in a research note on Monday, March 18th. HSBC increased their target price on NVIDIA from $880.00 to $1,050.00 and gave the stock a buy rating in a research note on Monday, March 18th. Oppenheimer increased their target price on NVIDIA from $850.00 to $1,100.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Finally, Craig Hallum increased their target price on NVIDIA from $700.00 to $850.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of Moderate Buy and an average target price of $940.30.

NVIDIA Stock Up 1.6 %

Shares of NASDAQ NVDA opened at $874.15 on Tuesday. The stock has a market cap of $2.19 trillion, a PE ratio of 73.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA has a 52-week low of $262.25 and a 52-week high of $974.00. The business has a 50-day moving average price of $838.10 and a 200 day moving average price of $616.90.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue was up 265.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Equities research analysts forecast that NVIDIA will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is currently 1.34%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Studio Investment Management LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Peoples Financial Services CORP. purchased a new stake in shares of NVIDIA during the third quarter worth about $30,000. Finally, Your Advocates Ltd. LLP purchased a new stake in shares of NVIDIA during the third quarter worth about $30,000. 65.27% of the stock is owned by hedge funds and other 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.