NVIDIA Corporation (NASDAQ:NVDA) had its target price increased by Bank of America Corporation from $210.00 to $251.00 in a report issued on Friday morning. They currently have a buy rating on the computer hardware maker’s stock.
Several other equities analysts have also issued reports on NVDA. B. Riley reissued a buy rating and issued a $200.00 price target on shares of NVIDIA Corporation in a research note on Sunday, August 13th. Jefferies Group LLC boosted their price target on NVIDIA Corporation from $230.00 to $240.00 and gave the company a buy rating in a research note on Friday. Needham & Company LLC reissued a buy rating and issued a $250.00 price target on shares of NVIDIA Corporation in a research note on Friday. Nomura raised NVIDIA Corporation from a reduce rating to a neutral rating and boosted their price target for the company from $110.00 to $190.00 in a research note on Friday. Finally, Deutsche Bank AG upped their target price on NVIDIA Corporation from $145.00 to $190.00 and gave the stock a hold rating in a research report on Wednesday, November 8th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. NVIDIA Corporation presently has a consensus rating of Buy and a consensus price target of $185.41.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $2.06 on Friday, reaching $214.69. The company’s stock had a trading volume of 7,042,074 shares, compared to its average volume of 17,758,639. NVIDIA Corporation has a 12-month low of $83.62 and a 12-month high of $218.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The firm has a market capitalization of $127,580.00, a price-to-earnings ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue was up 31.5% compared to the same quarter last year. equities research analysts expect that NVIDIA Corporation will post 3.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 14.00%.
In other news, CFO Colette Kress sold 22,808 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Byron sold 409 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the transaction, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Insiders have sold a total of 436,503 shares of company stock worth $78,796,295 over the last quarter. Corporate insiders own 5.17% of the company’s stock.
Several institutional investors have recently made changes to their positions in NVDA. Welch Investments LLC bought a new position in shares of NVIDIA Corporation during the 3rd quarter valued at about $104,000. Evercore Wealth Management LLC grew its position in NVIDIA Corporation by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the last quarter. TB Alternative Assets Ltd. bought a new position in NVIDIA Corporation during the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC grew its position in NVIDIA Corporation by 186.1% during the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after acquiring an additional 547 shares during the last quarter. Finally, Thompson Davis & CO. Inc. grew its position in NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, 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.
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