NVIDIA (NASDAQ:NVDA) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning.

NVDA has been the subject of several other research reports. KeyCorp upped their price target on shares of NVIDIA from $120.00 to $130.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. Susquehanna upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a positive rating in a research report on Monday, June 10th. Benchmark increased their target price on shares of NVIDIA from $100.00 to $135.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of NVIDIA from $85.00 to $100.00 and gave the stock a hold rating in a report on Thursday, May 23rd. Finally, Oppenheimer reissued an outperform rating and issued a $110.00 target price on shares of NVIDIA in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of Moderate Buy and an average target price of $121.77.

NVIDIA Trading Down 3.2 %

NVIDIA stock opened at $126.57 on Tuesday. NVIDIA has a one year low of $39.23 and a one year high of $140.76. The business’s fifty day moving average is $102.25 and its 200 day moving average is $80.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The stock has a market capitalization of $3.11 trillion, a PE ratio of 74.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. On average, sell-side analysts predict that NVIDIA will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 11th. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Dawn E. Hudson sold 150,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the director now owns 555,000 shares of the company’s stock, valued at $58,785,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the sale, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawn E. Hudson sold 150,000 shares of NVIDIA stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the director now directly owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,413,370 shares of company stock valued at $263,248,609. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NVDA. Vanguard Group Inc. increased its position in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $14,606,369,000. Northern Trust Corp increased its position in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after purchasing an additional 910,009 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NVIDIA by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.