NVIDIA (NASDAQ:NVDA) Earns Outperform Rating from Analysts at Evercore ISI

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

A number of other equities analysts also recently issued reports on NVDA. Benchmark reissued a buy rating and set a $1,000.00 price target on shares of NVIDIA in a research report on Wednesday, March 20th. Raymond James increased their price target on NVIDIA from $850.00 to $1,100.00 and gave the stock a strong-buy rating in a research report on Thursday, April 11th. Oppenheimer increased their price target on NVIDIA from $850.00 to $1,100.00 and gave the stock an outperform rating in a research report on Wednesday, March 20th. Stifel Nicolaus reissued a buy rating and set a $910.00 price target on shares of NVIDIA in a research report on Wednesday, March 20th. Finally, Tigress Financial increased their price target on NVIDIA from $790.00 to $985.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $940.30.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $762.00 on Tuesday. The stock’s fifty day moving average is $844.71 and its two-hundred day moving average is $622.23. The company has a market capitalization of $1.91 trillion, a PE ratio of 63.82, a price-to-earnings-growth ratio of 1.22 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, analysts expect that NVIDIA will post 22.45 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. 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 dividend payout ratio is presently 1.34%.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last 90 days. 3.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in NVIDIA by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock valued at $101,276,242,000 after acquiring an additional 827,377 shares during the period. Geode Capital Management LLC grew its stake in NVIDIA by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after acquiring an additional 267,061 shares during the period. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at $14,606,369,000. Morgan Stanley boosted its stake in NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in NVIDIA by 3.6% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.