Nvidia Corp. (NASDAQ:NVDA) Director Persis Drell sold 2,361 shares of the company’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $66.58, for a total value of $157,195.38. Following the completion of the sale, the director now directly owns 27,152 shares of the company’s stock, valued at $1,807,780.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Nvidia Corp. (NASDAQ:NVDA) opened at 65.35 on Friday. The firm has a market capitalization of $34.96 billion, a PE ratio of 42.94 and a beta of 1.25. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $69.70. The company’s 50-day moving average is $64.22 and its 200-day moving average is $50.82.
Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Analysts forecast that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.70%. Nvidia Corp.’s dividend payout ratio is presently 30.26%.
A number of institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. raised its position in shares of Nvidia Corp. by 92.1% in the first quarter. Landscape Capital Management L.L.C. now owns 27,810 shares of the computer hardware maker’s stock worth $991,000 after buying an additional 13,330 shares in the last quarter. AMF Pensionsforsakring AB purchased a new position in Nvidia Corp. during the first quarter worth approximately $1,924,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Nvidia Corp. during the first quarter worth approximately $496,000. Canada Pension Plan Investment Board raised its position in Nvidia Corp. by 1.8% in the first quarter. Canada Pension Plan Investment Board now owns 662,894 shares of the computer hardware maker’s stock worth $23,619,000 after buying an additional 11,600 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in Nvidia Corp. by 48.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 36,100 shares of the computer hardware maker’s stock worth $1,286,000 after buying an additional 11,800 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.
A number of brokerages recently issued reports on NVDA. RBC Capital Markets raised Nvidia Corp. from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $47.00 to $72.00 in a research report on Friday, August 12th. KeyCorp reissued a “hold” rating on shares of Nvidia Corp. in a research report on Wednesday, July 6th. B. Riley reissued a “buy” rating and issued a $64.50 target price on shares of Nvidia Corp. in a research report on Wednesday, August 10th. Vetr cut Nvidia Corp. from a “sell” rating to a “strong sell” rating and set a $49.47 price objective for the company. in a research report on Monday, July 25th. Finally, Argus increased their price objective on Nvidia Corp. from $54.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.59.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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