NVIDIA (NASDAQ:NVDA) Downgraded by HSBC to “Hold”

HSBC lowered shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $120.00 target price on the computer hardware maker’s stock.

Other research analysts also recently issued research reports about the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Barclays boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Susquehanna restated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.89.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $101.80 on Thursday. NVIDIA has a 52 week low of $75.61 and a 52 week high of $195.95. The company has a fifty day simple moving average of $122.16 and a two-hundred day simple moving average of $131.11. 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 company has a market cap of $2.48 trillion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock valued at $22,642,615 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in NVIDIA by 116.0% in the 1st quarter. Versant Capital Management Inc now owns 60,279 shares of the computer hardware maker’s stock valued at $6,533,000 after acquiring an additional 32,374 shares during the last quarter. Boston Common Asset Management LLC grew its position in shares of NVIDIA by 11.5% in the first quarter. Boston Common Asset Management LLC now owns 367,869 shares of the computer hardware maker’s stock valued at $39,870,000 after purchasing an additional 38,003 shares during the last quarter. Adirondack Trust Co. increased its stake in shares of NVIDIA by 5.5% during the 1st quarter. Adirondack Trust Co. now owns 90,506 shares of the computer hardware maker’s stock worth $9,809,000 after purchasing an additional 4,728 shares in the last quarter. First Citizens Financial Corp raised its position in shares of NVIDIA by 7.3% during the 1st quarter. First Citizens Financial Corp now owns 7,072 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 482 shares during the last quarter. Finally, Insight Wealth Strategies LLC lifted its stake in NVIDIA by 0.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 33,728 shares of the computer hardware maker’s stock valued at $3,655,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors 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.