Bank of America Corp. reissued their buy rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a research note issued to investors on Monday morning. They currently have a $80.00 target price on the computer hardware maker’s stock.
Several other brokerages have also commented on NVDA. Jefferies Group raised their price target on Nvidia Corp. from $56.00 to $69.00 and gave the company a buy rating in a research note on Monday, August 8th. RBC Capital Markets reaffirmed an outperform rating and set a $72.00 price objective on shares of Nvidia Corp. in a research report on Wednesday, August 31st. B. Riley reaffirmed a buy rating and set a $58.00 price objective on shares of Nvidia Corp. in a research report on Monday, July 11th. Goldman Sachs Group Inc. raised their price objective on Nvidia Corp. to $70.00 and gave the company a buy rating in a research report on Friday, August 12th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $59.00 price objective on shares of Nvidia Corp. in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $58.60.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 68.23 on Monday. The company has a market cap of $36.50 billion, a PE ratio of 44.83 and a beta of 1.25. Nvidia Corp. has a one year low of $24.75 and a one year high of $69.70. The stock’s 50 day moving average is $63.46 and its 200-day moving average is $49.67.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Equities research analysts expect that Nvidia Corp. will post $1.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were issued a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Nvidia Corp.’s dividend payout ratio is presently 30.26%.
In related news, Director A Brooke Seawell sold 30,000 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. Following the sale, the director now owns 6,213 shares in the company, valued at approximately $388,436.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 85,551 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $68.75, for a total value of $5,881,631.25. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Washington Trust Bank increased its stake in shares of Nvidia Corp. by 0.8% in the third quarter. Washington Trust Bank now owns 6,753 shares of the computer hardware maker’s stock valued at $463,000 after buying an additional 54 shares during the period. Atlantic Trust Group LLC increased its stake in shares of Nvidia Corp. by 0.3% in the second quarter. Atlantic Trust Group LLC now owns 27,441 shares of the computer hardware maker’s stock valued at $1,289,000 after buying an additional 81 shares during the period. IFC Holdings Incorporated FL increased its stake in shares of Nvidia Corp. by 1.2% in the second quarter. IFC Holdings Incorporated FL now owns 8,639 shares of the computer hardware maker’s stock valued at $403,000 after buying an additional 100 shares during the period. Advantus Capital Management Inc increased its stake in shares of Nvidia Corp. by 0.3% in the second quarter. Advantus Capital Management Inc now owns 50,125 shares of the computer hardware maker’s stock valued at $2,356,000 after buying an additional 131 shares during the period. Finally, Baker Avenue Asset Management LP increased its stake in shares of Nvidia Corp. by 0.6% in the first quarter. Baker Avenue Asset Management LP now owns 32,830 shares of the computer hardware maker’s stock valued at $1,170,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.
Nvidia Corp. Company Profile
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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