NVIDIA Inc (NASDAQ:NVDA – Get Rating) released its quarterly earnings data on Wednesday. The hardware maker reported earnings per share (EPS) of $1.36 for the quarter, beating analysts’ consensus estimate of $1.29 by $0.07, MarketWatch Earnings reports. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. The company posted revenue of $8.29 billion for the quarter, versus a consensus estimate of $8.09 billion. In the same quarter last year, the company posted earnings per share of $0.78. The company’s revenue increased by 46.4% compared to the same quarter last year. NVIDIA has updated its Q2 2023 guidance to EPS.
NVDA shares traded at $8.21 during Wednesday’s midday session, hitting $169.75. 77,465,048 shares were traded, against an average volume of 55,507,867. The company has a market capitalization of $494.44 billion, a PE ratio of 44.12, a growth price/earnings ratio of 2.16 and a beta of 1.59. NVIDIA has a 52-week low of $154.60 and a 52-week high of $346.47. The company has a fifty-day moving average of $215.65 and a 200-day moving average of $252.17. The company has a quick ratio of 6.05, a current ratio of 6.65 and a leverage ratio of 0.41.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Thursday, June 9 will receive a dividend of $0.04 per share. This represents an annualized dividend of $0.16 and a dividend yield of 0.09%. NVIDIA’s payout ratio is currently 4.16%.
A number of equity research analysts have recently published NVDA stock reports. Wells Fargo & Company lowered its price target on NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a Friday, May 20 research report. KeyCorp cut its target price on NVIDIA from $350.00 to $310.00 and set an “overweight” rating on the stock in a Tuesday, April 12 research note. Susquehanna Bancshares lowered its price target on NVIDIA from $320.00 to $280.00 and set a “na” rating for the company in a Wednesday, May 18 research note. Barclays cut its price target on NVIDIA from $350.00 to $295.00 and set an “overweight” rating on the stock in a Monday, April 25 research report. Finally, Citigroup downgraded NVIDIA from a “neutral” rating to a “buy” rating and set a target price of $280.00 for the company in a Wednesday, April 13 research report. They noted that the move was a review call. Eight equity research analysts gave the stock a hold rating, twenty-five gave the stock a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $306.79.
In other news, Director Tench Coxe sold 100,000 shares of the company in a trade that took place on Monday, March 28. The stock was sold at an average price of $274.06, for a total transaction of $27,406,000.00. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, CEO Jen Hsun Huang sold 292,340 NVIDIA shares in a trade that took place on Tuesday, March 1. The stock was sold at an average price of $237.12, for a total value of $69,319,660.80. The disclosure of this sale can be found here. Insiders sold a total of 409,056 shares of the company worth $101,135,342 in the past ninety days. 4.47% of the shares are currently held by company insiders.
Major investors have recently changed their stakes in the company. Bank of New York Mellon Corp increased its stake in NVIDIA shares by 294.8% in Q3. Bank of New York Mellon Corp now owns 24,476,208 shares of the hardware maker valued at $5,070,488,000 after buying an additional 18,277,063 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in NVIDIA shares by 2.0% in Q1. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the hardware maker valued at $3,347,921,000 after buying an additional 243,671 shares in the last quarter. First Trust Advisors LP increased its stake in NVIDIA shares by 5.1% in Q1. First Trust Advisors LP now owns 1,377,253 shares of the hardware maker valued at $375,797,000 after buying an additional 66,852 shares in the last quarter. American International Group Inc. increased its stake in NVIDIA stock by 296.1% in Q3. American International Group Inc. now owns 966,474 shares of the hardware maker valued at $200,215,000 after buying an additional 722,447 shares in the last quarter. Finally, Mariner LLC increased its stake in NVIDIA shares by 5.4% in the 1st quarter. Mariner LLC now owns 717,965 shares of the hardware maker valued at $195,906,000 after buying an additional 36,511 shares in the last quarter. Institutional investors hold 55.19% of the company’s shares.
NVIDIA Company Profile (Get an assessment)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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