NVIDIA (NASDAQ:NVDA) Releases Quarterly Earnings Results

NVIDIA (NASDAQ:NVDAGet Rating) announced its quarterly earnings results on Wednesday. The computer hardware maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.13), RTT News reports. NVIDIA had a net margin of 20.85% and a return on equity of 29.47%. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis.

NVIDIA Stock Down 1.7 %

NASDAQ NVDA traded down $2.68 during trading hours on Friday, reaching $154.09. 1,431,864 shares of the company traded hands, compared to its average volume of 55,841,464. NVIDIA has a 12 month low of $108.13 and a 12 month high of $346.47. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $383.68 billion, a PE ratio of 64.63, a PEG ratio of 5.32 and a beta of 1.70. The company has a 50 day moving average of $132.68 and a two-hundred day moving average of $157.02.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.10%. NVIDIA’s dividend payout ratio (DPR) is 6.81%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of analyst reports. Sanford C. Bernstein cut their price objective on shares of NVIDIA from $210.00 to $180.00 in a research report on Thursday, September 1st. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. Susquehanna upped their price target on shares of NVIDIA from $180.00 to $185.00 and gave the stock a “positive” rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of NVIDIA from $155.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Fubon Bank lowered shares of NVIDIA from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.21.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 87,500 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the transaction, the director now directly owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 85,000 shares of the stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $116.49, for a total transaction of $9,901,650.00. Following the sale, the director now directly owns 2,397,693 shares of the company’s stock, valued at $279,307,257.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 87,500 shares of the stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the sale, the director now directly owns 2,310,193 shares in the company, valued at $276,414,592.45. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. AJ Wealth Strategies LLC grew its holdings in shares of NVIDIA by 1.7% during the 1st quarter. AJ Wealth Strategies LLC now owns 4,238 shares of the computer hardware maker’s stock worth $1,156,000 after purchasing an additional 70 shares in the last quarter. Lake Point Wealth Management grew its holdings in shares of NVIDIA by 16.4% during the 1st quarter. Lake Point Wealth Management now owns 540 shares of the computer hardware maker’s stock worth $147,000 after purchasing an additional 76 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in shares of NVIDIA by 1.3% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 7,567 shares of the computer hardware maker’s stock worth $2,065,000 after purchasing an additional 95 shares in the last quarter. HBC Financial Services PLLC grew its holdings in shares of NVIDIA by 50.0% during the 2nd quarter. HBC Financial Services PLLC now owns 300 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its holdings in shares of NVIDIA by 11.1% during the 1st quarter. Interchange Capital Partners LLC now owns 1,027 shares of the computer hardware maker’s stock worth $280,000 after purchasing an additional 103 shares in the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

Earnings History for NVIDIA (NASDAQ:NVDA)

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