B. Riley reiterated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a report released on Tuesday morning. B. Riley currently has a $270.00 target price on the computer hardware maker’s stock. B. Riley also issued estimates for NVIDIA Corporation’s Q4 2018 earnings at $1.14 EPS, Q1 2019 earnings at $0.91 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.27 EPS and Q4 2019 earnings at $1.43 EPS.
A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets upgraded shares of NVIDIA Corporation from an underperform rating to a market perform rating and dropped their price objective for the company from $218.67 to $216.14 in a research note on Monday, November 13th. MKM Partners increased their price objective on shares of NVIDIA Corporation and gave the company a neutral rating in a research note on Friday, November 10th. Raymond James Financial, Inc. increased their price objective on shares of NVIDIA Corporation and gave the company an outperform rating in a research note on Friday, November 10th. Barclays PLC increased their price objective on shares of NVIDIA Corporation from $200.00 to $225.00 and gave the company an equal weight rating in a research note on Friday, November 10th. Finally, Bank of America Corporation increased their price objective on shares of NVIDIA Corporation from $210.00 to $251.00 and gave the company a buy rating in a research note on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $186.85.
NVIDIA Corporation (NASDAQ:NVDA) traded down $0.25 during midday trading on Tuesday, hitting $211.36. 12,702,474 shares of the stock were exchanged, compared to its average volume of 17,662,922. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. NVIDIA Corporation has a 1 year low of $84.77 and a 1 year high of $218.67. The company has a market capitalization of $126,970.00, a P/E ratio of 52.75, a PEG ratio of 4.64 and a beta of 1.23.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. NVIDIA Corporation’s payout ratio is 14.00%.
In other NVIDIA Corporation news, Director Dawn E. Hudson sold 15,000 shares of NVIDIA Corporation stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the transaction, the director now directly owns 46,868 shares of the company’s stock, valued at $10,003,505.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Insiders have sold 451,503 shares of company stock worth $81,997,895 over the last ninety days. 5.82% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Coastline Trust Co purchased a new position in NVIDIA Corporation during the third quarter worth about $871,000. Atlantic Trust LLC raised its stake in NVIDIA Corporation by 7.4% during the third quarter. Atlantic Trust LLC now owns 12,026 shares of the computer hardware maker’s stock worth $2,150,000 after purchasing an additional 833 shares during the period. Central Asset Investments & Management Holdings HK Ltd raised its stake in NVIDIA Corporation by 1,007.1% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 67,090 shares of the computer hardware maker’s stock worth $11,994,000 after purchasing an additional 61,030 shares during the period. Salem Investment Counselors Inc. raised its stake in NVIDIA Corporation by 3,507.8% during the third quarter. Salem Investment Counselors Inc. now owns 8,803 shares of the computer hardware maker’s stock worth $1,567,000 after purchasing an additional 8,559 shares during the period. Finally, Americafirst Capital Management LLC purchased a new position in NVIDIA Corporation during the third quarter worth about $207,000. 65.40% of the stock is currently owned by institutional investors.
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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