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

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

NVIDIA Stock Up 0.2 %

NVDA stock opened at $380.39 on Friday. The company has a quick ratio of 2.73, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. The stock has a 50-day simple moving average of $280.52 and a two-hundred day simple moving average of $218.29. The firm has a market capitalization of $940.75 billion, a PE ratio of 197.81, a PEG ratio of 5.31 and a beta of 1.77. NVIDIA has a twelve month low of $108.13 and a twelve month high of $394.80.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the completion of the sale, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,084 shares of company stock worth $14,516,510. Insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after purchasing an additional 267,061 shares in the last quarter. Morgan Stanley raised its holdings in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC increased its holdings in shares of NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NVIDIA by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock valued at $3,347,921,000 after acquiring an additional 243,671 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NVDA shares. The Goldman Sachs Group upped their price objective on NVIDIA from $275.00 to $440.00 in a research note on Thursday. Bank of America upped their price objective on NVIDIA from $340.00 to $450.00 in a research note on Thursday. Wells Fargo & Company upped their price objective on NVIDIA from $320.00 to $450.00 in a research note on Thursday. StockNews.com started coverage on shares of NVIDIA in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Truist Financial increased their target price on shares of NVIDIA from $322.00 to $470.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $375.13.

NVIDIA Company Profile

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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.