NVIDIA Corporation (NASDAQ:NVDA) had its target price raised by Royal Bank Of Canada from $150.00 to $175.00 in a report published on Monday, June 12th. Royal Bank Of Canada currently has an outperform rating on the computer hardware maker’s stock.
A number of other equities analysts have also weighed in on NVDA. Pacific Crest restated an equal weight rating on shares of NVIDIA Corporation in a research report on Sunday, February 12th. Vetr upgraded shares of NVIDIA Corporation from a buy rating to a strong-buy rating and set a $128.82 price objective for the company in a research report on Monday, February 13th. Zacks Investment Research lowered shares of NVIDIA Corporation from a buy rating to a hold rating in a research report on Tuesday, February 14th. B. Riley reiterated a buy rating and set a $135.00 price objective on shares of NVIDIA Corporation in a research report on Wednesday, February 15th. Finally, Nomura reiterated a buy rating and set a $100.00 price objective (up previously from $80.00) on shares of NVIDIA Corporation in a research report on Wednesday, February 15th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $118.26.
Shares of NVIDIA Corporation (NVDA) traded down 0.19% on Monday, reaching $157.02. 14,894,735 shares of the company’s stock traded hands. The stock has a market cap of $93.43 billion, a price-to-earnings ratio of 52.71 and a beta of 1.24. NVIDIA Corporation has a 52-week low of $44.57 and a 52-week high of $168.50. The firm’s 50-day moving average is $134.62 and its 200-day moving average is $112.04.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. NVIDIA Corporation’s revenue for the quarter was up 48.7% on a year-over-year basis. Analysts anticipate that NVIDIA Corporation will post $3.09 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.36%. NVIDIA Corporation’s payout ratio is 18.60%.
In related news, EVP Ajay K. Puri sold 133,542 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $108.53, for a total value of $14,493,313.26. Following the completion of the transaction, the executive vice president now directly owns 601,367 shares of the company’s stock, valued at $65,266,360.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The disclosure for this sale can be found here. Insiders have sold 410,304 shares of company stock worth $54,139,604 over the last 90 days. Insiders own 5.17% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Turner Investments LLC purchased a new stake in NVIDIA Corporation during the fourth quarter valued at $1,921,000. Wetherby Asset Management Inc. increased its stake in NVIDIA Corporation by 0.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,483 shares of the computer hardware maker’s stock valued at $799,000 after buying an additional 38 shares during the last quarter. Robertson Stephens Advisors LLC purchased a new stake in NVIDIA Corporation during the fourth quarter valued at $320,000. Comerica Bank increased its stake in NVIDIA Corporation by 1.4% in the fourth quarter. Comerica Bank now owns 156,915 shares of the computer hardware maker’s stock valued at $16,230,000 after buying an additional 2,144 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in NVIDIA Corporation by 188.8% in the fourth quarter. Handelsbanken Fonder AB now owns 231,000 shares of the computer hardware maker’s stock valued at $24,657,000 after buying an additional 151,000 shares during the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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