Evercore ISI Begins Coverage on NVIDIA (NASDAQ:NVDA)

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

Several other brokerages also recently weighed in on NVDA. KeyCorp upped their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock an overweight rating in a report on Monday, April 8th. Loop Capital began coverage on shares of NVIDIA in a report on Friday, February 16th. They issued a buy rating and a $1,200.00 target price for the company. Argus increased their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the company a buy rating in a report on Wednesday, March 20th. Piper Sandler increased their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their price objective on shares of NVIDIA from $840.00 to $970.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of Moderate Buy and a consensus price target of $940.30.

NVIDIA Trading Up 0.8 %

Shares of NVIDIA stock opened at $846.71 on Tuesday. The company has a market capitalization of $2.12 trillion, a P/E ratio of 70.91, a P/E/G ratio of 1.21 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company has a fifty day moving average of $843.90 and a 200 day moving average of $620.05. NVIDIA has a fifty-two week low of $262.25 and a fifty-two week high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that NVIDIA will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John Dabiri sold 128 shares of the 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 transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last three months. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the business. Norwood Financial Corp bought a new position in shares of NVIDIA during the first quarter valued at approximately $45,000. Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. Studio Investment Management LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. 65.27% of the stock is currently owned by 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.