NVIDIA’s (NVDA) “Buy” Rating Reiterated at Bank of America

Bank of America reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $200.00 target price on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. HSBC reduced their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Performance

NVIDIA stock opened at $117.70 on Wednesday. The firm has a 50 day simple moving average of $126.92 and a 200-day simple moving average of $131.02. The stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. 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.

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 company had revenue of $39.33 billion for 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, analysts expect that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’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 transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,109 shares of company stock valued at $22,117,015 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA during the 4th quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $40,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.