NVIDIA (NASDAQ:NVDA) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

NVIDIA (NASDAQ:NVDAGet Rating) issued its earnings results on Wednesday. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, beating the 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 had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. NVIDIA updated its Q2 2023 guidance to EPS.

Shares of NVIDIA stock traded up $8.21 during trading on Wednesday, hitting $169.75. The company’s stock had a trading volume of 77,465,048 shares, compared to its average volume of 55,507,867. NVIDIA has a 52 week low of $154.60 and a 52 week high of $346.47. The stock has a 50-day moving average price of $215.65 and a two-hundred day moving average price of $252.17. The stock has a market cap of $494.44 billion, a price-to-earnings ratio of 44.12, a price-to-earnings-growth ratio of 2.16 and a beta of 1.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.65 and a quick ratio of 6.05.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 9th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. NVIDIA’s dividend payout ratio (DPR) is presently 4.16%.

A number of analysts have recently weighed in on the company. Robert W. Baird lowered NVIDIA from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $360.00 to $225.00 in a research report on Monday, April 11th. Oppenheimer decreased their target price on shares of NVIDIA from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating and set a $229.00 price target for the company. in a research report on Tuesday, April 19th. Cowen reaffirmed an “outperform” rating and set a $350.00 price objective on shares of NVIDIA in a research note on Tuesday, March 15th. Finally, Truist Financial decreased their price target on NVIDIA from $347.00 to $298.00 in a research note on Friday, April 8th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $306.79.

In other NVIDIA news, CEO Jen Hsun Huang sold 292,340 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total value of $69,319,660.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark L. Perry sold 16,716 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $263.80, for a total transaction of $4,409,680.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 409,056 shares of company stock worth $101,135,342. 4.47% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 294.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,476,208 shares of the computer hardware maker’s stock valued at $5,070,488,000 after purchasing an additional 18,277,063 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock worth $3,347,921,000 after acquiring an additional 243,671 shares during the period. First Trust Advisors LP increased its holdings in NVIDIA by 5.1% during the 1st quarter. First Trust Advisors LP now owns 1,377,253 shares of the computer hardware maker’s stock worth $375,797,000 after acquiring an additional 66,852 shares during the period. American International Group Inc. grew its position in NVIDIA by 296.1% during the third quarter. American International Group Inc. now owns 966,474 shares of the computer hardware maker’s stock worth $200,215,000 after buying an additional 722,447 shares in the last quarter. Finally, Mariner LLC grew its position in NVIDIA by 5.4% during the first quarter. Mariner LLC now owns 717,965 shares of the computer hardware maker’s stock worth $195,906,000 after buying an additional 36,511 shares in the last quarter. Institutional investors own 55.19% of the company’s stock.

NVIDIA Company Profile (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. 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 GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Earnings History for NVIDIA (NASDAQ:NVDA)

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