NVIDIA (NVDA) Sets New 52-Week High at $285.18

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NVIDIA Co. (NASDAQ:NVDA) reached a new 52-week high during trading on Tuesday . The company traded as high as $285.18 and last traded at $284.06, with a volume of 267302 shares trading hands. The stock had previously closed at $281.37.

Several brokerages recently issued reports on NVDA. BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Wells Fargo & Co raised shares of NVIDIA from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $140.00 to $315.00 in a research note on Tuesday, August 14th. Bank of America reissued a “buy” rating and set a $340.00 target price on shares of NVIDIA in a research note on Friday, May 11th. SunTrust Banks increased their target price on shares of NVIDIA to $316.00 and gave the stock a “buy” rating in a research note on Friday, May 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $250.00 target price (up from $243.00) on shares of NVIDIA in a research note on Friday, August 17th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $281.58.

The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $170.65 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 3.68 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The business’s revenue was up 40.0% on a year-over-year basis. equities research analysts forecast that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, August 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.22%. NVIDIA’s payout ratio is 12.85%.

In other NVIDIA news, EVP Ajay K. Puri sold 4,643 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $266.54, for a total transaction of $1,237,545.22. Following the transaction, the executive vice president now owns 295,635 shares in the company, valued at $78,798,552.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 889 shares of the company’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,615 shares of company stock worth $35,717,358. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sturgeon Ventures LLP raised its holdings in shares of NVIDIA by 26.4% in the second quarter. Sturgeon Ventures LLP now owns 50,224 shares of the computer hardware maker’s stock valued at $11,907,000 after purchasing an additional 10,483 shares during the last quarter. HM Payson & Co. raised its holdings in shares of NVIDIA by 10.1% in the second quarter. HM Payson & Co. now owns 2,359 shares of the computer hardware maker’s stock valued at $559,000 after purchasing an additional 217 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of NVIDIA by 35.3% in the second quarter. Advisors Asset Management Inc. now owns 26,999 shares of the computer hardware maker’s stock valued at $6,396,000 after purchasing an additional 7,039 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of NVIDIA by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 403,001 shares of the computer hardware maker’s stock valued at $95,471,000 after purchasing an additional 1,946 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of NVIDIA in the second quarter valued at about $232,000. Institutional investors own 65.69% of the company’s stock.

About NVIDIA (NASDAQ:NVDA)

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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