NVIDIA (NASDAQ:NVDA) had its target price upped by Bank of America from $225.00 to $250.00 in a research report released on Tuesday morning, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the computer hardware maker’s stock.
Other research analysts have also issued reports about the stock. Needham & Company LLC reissued a sell rating on shares of NVIDIA in a research report on Friday, August 16th. Sanford C. Bernstein set a $150.00 price target on shares of NVIDIA and gave the company a hold rating in a research report on Wednesday, June 26th. BidaskClub raised shares of NVIDIA from a sell rating to a hold rating in a research report on Wednesday, August 21st. ValuEngine raised shares of NVIDIA from a hold rating to a buy rating in a research report on Tuesday, August 20th. Finally, Goldman Sachs Group raised their price target on shares of NVIDIA from $179.00 to $192.00 and gave the company a buy rating in a research report on Wednesday, September 25th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $186.67.
Shares of NVIDIA stock traded down $3.56 during trading hours on Tuesday, reaching $190.73. The company’s stock had a trading volume of 5,602,079 shares, compared to its average volume of 8,576,021. NVIDIA has a one year low of $124.46 and a one year high of $249.88. The company has a market capitalization of $116.15 billion, a P/E ratio of 31.42, a P/E/G ratio of 5.05 and a beta of 2.05. The stock’s fifty day simple moving average is $178.02 and its two-hundred day simple moving average is $168.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.37. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the firm earned $1.94 earnings per share. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA will post 4.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 29th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.34%. NVIDIA’s dividend payout ratio (DPR) is presently 10.54%.
In other news, CFO Colette Kress sold 31,357 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $179.01, for a total value of $5,613,216.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Persis Drell sold 165 shares of NVIDIA stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $180.45, for a total transaction of $29,774.25. Following the completion of the transaction, the director now owns 18,019 shares of the company’s stock, valued at approximately $3,251,528.55. The disclosure for this sale can be found here. Insiders have sold 66,383 shares of company stock valued at $11,625,217 in the last 90 days. 4.64% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Pacific Center for Financial Services increased its stake in shares of NVIDIA by 143.1% in the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. LLBH Private Wealth Management LLC purchased a new position in shares of NVIDIA in the second quarter worth about $27,000. Field & Main Bank purchased a new position in shares of NVIDIA in the second quarter worth about $33,000. Sound Income Strategies LLC increased its stake in shares of NVIDIA by 96.2% in the second quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, Ruggie Capital Group purchased a new position in shares of NVIDIA in the second quarter worth about $35,000. Hedge funds and other institutional investors own 64.40% of the company’s stock.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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