Summit Insights Upgrades NVIDIA (NASDAQ:NVDA) to Buy

Summit Insights upgraded shares of NVIDIA (NASDAQ:NVDA - Free Report) from a hold rating to a buy rating in a research note released on Thursday morning, MarketBeat reports.

A number of other equities analysts have also recently issued reports on the stock. Citigroup reissued a "buy" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday. Rosenblatt Securities upped their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Wedbush lowered shares of NVIDIA from an "outperform" rating to a "cautious" rating in a report on Friday, May 23rd. Truist Financial upped their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Susquehanna restated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $171.66.

NVIDIA Trading Down 3.5%

NVDA traded down $4.91 during trading on Thursday, reaching $134.28. 332,224,842 shares of the stock traded hands, compared to its average volume of 285,804,787. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.28 trillion, a PE ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11. The stock's 50-day moving average is $115.20 and its 200 day moving average is $126.61. NVIDIA has a 12 month low of $86.62 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. Equities analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock worth $17,133,207. 4.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the stock. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $40,000. Kathleen S. Wright Associates Inc. lifted its holdings in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after buying an additional 254 shares during the period. Finally, Copia Wealth Management purchased a new stake in NVIDIA in the 4th quarter worth approximately $50,000. 65.27% of the stock is currently 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.