NVIDIA (NASDAQ:NVDA) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of NVIDIA (NASDAQ:NVDA – Get Rating) from an equal weight rating to an overweight rating in a research note released on Thursday, Marketbeat Ratings reports. They currently have $304.00 price target on the computer hardware maker’s stock, up from their prior price target of $255.00.

Several other brokerages also recently weighed in on NVDA. Jefferies Financial Group boosted their price target on NVIDIA from $275.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 23rd. HSBC started coverage on NVIDIA in a report on Thursday, December 15th. They set a reduce rating and a $136.00 price objective for the company. BMO Capital Markets upped their price objective on NVIDIA from $210.00 to $240.00 and gave the stock an outperform rating in a report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $170.00 to $200.00 and gave the stock a hold rating in a report on Thursday, February 23rd. Finally, Robert W. Baird upped their price objective on NVIDIA from $150.00 to $230.00 and gave the stock a neutral rating in a report on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $245.32.

NVIDIA Trading Up 0.7 %

Shares of NVDA opened at $257.25 on Thursday. The stock has a fifty day moving average of $210.84 and a two-hundred day moving average of $167.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The company has a market capitalization of $635.41 billion, a PE ratio of 147.84, a price-to-earnings-growth ratio of 4.30 and a beta of 1.76. NVIDIA has a fifty-two week low of $108.13 and a fifty-two week high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.02 billion. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. NVIDIA’s revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. As a group, analysts forecast that NVIDIA will post 3.21 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date is Tuesday, March 7th. NVIDIA’s dividend payout ratio is 9.20%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 293 shares of NVIDIA stock in a transaction on Monday, December 19th. The shares were sold at an average price of $165.80, for a total transaction of $48,579.40. Following the completion of the sale, the director now owns 2,417 shares of the company’s stock, valued at approximately $400,738.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director John Dabiri sold 293 shares of NVIDIA stock in a transaction on Monday, December 19th. The shares were sold at an average price of $165.80, for a total transaction of $48,579.40. Following the completion of the sale, the director now owns 2,417 shares of the company’s stock, valued at approximately $400,738.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark L. Perry sold 20,000 shares of NVIDIA stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the sale, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The disclosure for this sale can be found here. Insiders sold 293,066 shares of company stock valued at $51,229,679 in the last quarter. Company insiders own 4.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AdvisorNet Financial Inc raised its holdings in shares of NVIDIA by 3.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 21,362 shares of the computer hardware maker’s stock valued at $2,593,000 after purchasing an additional 781 shares in the last quarter. Rede Wealth LLC increased its holdings in shares of NVIDIA by 3.9% during the 3rd quarter. Rede Wealth LLC now owns 2,656 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 100 shares during the period. Mizuho Securities Co. Ltd. increased its holdings in shares of NVIDIA by 34.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 6,140 shares of the computer hardware maker’s stock worth $745,000 after purchasing an additional 1,570 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of NVIDIA by 65.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 45,478 shares of the computer hardware maker’s stock worth $5,521,000 after purchasing an additional 18,044 shares during the period. Finally, Centerpoint Advisors LLC increased its holdings in shares of NVIDIA by 66.6% during the 3rd quarter. Centerpoint Advisors LLC now owns 3,940 shares of the computer hardware maker’s stock worth $478,000 after purchasing an additional 1,575 shares during the period. Institutional investors own 61.80% of the company’s stock.

NVIDIA Company Profile

(Get Rating)

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.