SunTrust Banks Inc. began coverage on shares of Nvidia Corp. (NASDAQ:NVDA) in a research note released on Monday morning. The brokerage issued a neutral rating and a $59.00 target price on the computer hardware maker’s stock.
Several other equities research analysts have also commented on NVDA. Jefferies Group restated a buy rating and issued a $45.00 price objective on shares of Nvidia Corp. in a research note on Sunday, May 22nd. Vetr lowered Nvidia Corp. from a sell rating to a strong sell rating and set a $39.13 price objective for the company. in a research note on Monday, May 23rd. Goldman Sachs Group Inc. initiated coverage on Nvidia Corp. in a research note on Thursday, June 2nd. They issued a buy rating and a $54.00 price objective for the company. Nomura upgraded Nvidia Corp. from a neutral rating to a buy rating and upped their price objective for the stock from $35.00 to $55.00 in a research note on Monday, June 13th. Finally, MKM Partners restated a buy rating and issued a $52.00 price objective (up from $43.00) on shares of Nvidia Corp. in a research note on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $57.20.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 64.86 on Monday. The firm’s 50-day moving average price is $61.39 and its 200 day moving average price is $47.19. Nvidia Corp. has a 52 week low of $22.50 and a 52 week high of $65.26. The company has a market cap of $34.70 billion, a price-to-earnings ratio of 42.61 and a beta of 1.26.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, equities research analysts forecast that Nvidia Corp. will post $1.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were issued a $0.115 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.71%. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
In other Nvidia Corp. news, Director Mark L. Perry sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $52.93, for a total transaction of $1,852,550.00. Following the sale, the director now directly owns 97,292 shares in the company, valued at approximately $5,149,665.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 40,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $52.94, for a total transaction of $2,117,600.00. Following the sale, the chief executive officer now owns 1,817,279 shares in the company, valued at $96,206,750.26. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in NVDA. Brick & Kyle Associates raised its stake in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares during the period. Compagnie Lombard Odier SCmA raised its stake in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock worth $159,000 after buying an additional 1,415 shares during the period. Aviance Capital Management LLC acquired a new stake in Nvidia Corp. during the second quarter worth about $200,000. Stratos Wealth Partners LTD. acquired a new stake in Nvidia Corp. during the second quarter worth about $201,000. Finally, Broderick Brian C acquired a new stake in Nvidia Corp. during the second quarter worth about $209,000. 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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