DA Davidson Cuts NVIDIA (NASDAQ:NVDA) Price Target to $125.00

NVIDIA (NASDAQ:NVDA) had its price objective trimmed by DA Davidson from $135.00 to $125.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the computer hardware maker’s stock.

A number of other research firms have also recently commented on NVDA. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Wednesday. Bank of America reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Wednesday. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays increased their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Down 0.7 %

Shares of NVDA stock opened at $117.70 on Thursday. NVIDIA has a 1 year low of $75.61 and a 1 year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock’s 50 day simple moving average is $126.92 and its two-hundred day simple moving average is $131.18. The company has a market cap of $2.87 trillion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business 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%. Research analysts predict that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 in the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hoertkorn Richard Charles grew its position in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. DiNuzzo Private Wealth Inc. grew its position in shares of NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC grew its position in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares during the period. Palisade Asset Management LLC grew its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Finally, Baker Boyer National Bank grew its position in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.