NVIDIA (NASDAQ:NVDA) Issues Quarterly Earnings Results, Beats Estimates By $0.17 EPS

NVIDIA (NASDAQ:NVDA – Get Rating) released its earnings results on Wednesday. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17, RTT News reports. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $379.80 on Friday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $280.52 and a 200-day simple moving average of $218.29. The company has a market cap of $939.29 billion, a PE ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77. NVIDIA has a 12-month low of $108.13 and a 12-month high of $394.80.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is presently 8.33%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $274.55, for a total value of $1,372,750.00. Following the completion of the transaction, the director now owns 85,350 shares in the company, valued at approximately $23,432,842.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 6,000 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the transaction, the chief financial officer now owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,084 shares of company stock worth $14,516,510. Company insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Quarry LP acquired a new position in shares of NVIDIA during the 1st quarter valued at $34,000. Compass Wealth Management LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $39,000. HBC Financial Services PLLC raised its holdings in shares of NVIDIA by 50.0% in 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. Castleview Partners LLC raised its holdings in shares of NVIDIA by 104.8% in the 1st quarter. Castleview Partners LLC now owns 172 shares of the computer hardware maker’s stock worth $48,000 after purchasing an additional 88 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $62,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. Needham & Company LLC lifted their price target on shares of NVIDIA from $300.00 to $460.00 in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $250.00 to $500.00 in a report on Thursday. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. Citigroup lifted their price target on shares of NVIDIA from $363.00 to $420.00 in a report on Thursday. Finally, KeyCorp increased their target price on shares of NVIDIA from $320.00 to $375.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $375.13.

About NVIDIA

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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.