Citigroup Increases NVIDIA (NASDAQ:NVDA) Price Target to $245.00

NVIDIA (NASDAQ:NVDA) had its price target lifted by Citigroup from $200.00 to $245.00 in a research note published on Friday morning, The Fly reports. Citigroup currently has a buy rating on the computer hardware maker’s stock.

Several other analysts also recently issued reports on the stock. ValuEngine downgraded shares of NVIDIA from a strong-buy rating to a buy rating in a research report on Monday, November 11th. Needham & Company LLC reissued a sell rating on shares of NVIDIA in a research report on Friday, August 16th. Royal Bank of Canada lifted their price target on shares of NVIDIA from $217.00 to $251.00 and gave the company an outperform rating in a research report on Friday, October 25th. Mizuho reissued a buy rating and issued a $185.00 price target (down previously from $192.00) on shares of NVIDIA in a research report on Friday, August 16th. Finally, Daiwa Capital Markets set a $200.00 price target on shares of NVIDIA and gave the company a buy rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $216.69.

Shares of NVDA stock traded down $4.11 during trading hours on Friday, hitting $208.17. 658,581 shares of the company were exchanged, compared to its average volume of 8,276,448. The firm has a market cap of $124.96 billion, a P/E ratio of 34.27, a P/E/G ratio of 5.25 and a beta of 2.06. NVIDIA has a fifty-two week low of $124.46 and a fifty-two week high of $213.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.71 and a current ratio of 8.42. The company has a 50 day simple moving average of $195.53 and a two-hundred day simple moving average of $170.83.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, topping the consensus estimate of $1.57 by $0.21. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. As a group, sell-side analysts expect that NVIDIA will post 4.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.31%. The ex-dividend date is Wednesday, November 27th. NVIDIA’s dividend payout ratio (DPR) is presently 10.54%.

In other NVIDIA news, CFO Colette Kress sold 31,357 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total transaction of $5,613,216.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael G. Mccaffery sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $165.97, for a total value of $2,489,550.00. Following the transaction, the director now owns 27,579 shares in the company, valued at $4,577,286.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,883 shares of company stock worth $11,206,817. Company insiders own 4.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marquette Asset Management LLC raised its stake in shares of NVIDIA by 416.7% during the 3rd quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after purchasing an additional 125 shares during the period. Pacific Center for Financial Services raised its stake in shares of NVIDIA by 143.1% during the 2nd 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 during the period. Investors Research Corp raised its stake in shares of NVIDIA by 313.0% during the 3rd quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 144 shares during the period. Field & Main Bank bought a new stake in shares of NVIDIA during the 2nd quarter worth $33,000. Finally, American National Bank bought a new stake in shares of NVIDIA during the 3rd quarter worth $35,000. Institutional investors own 64.56% of the company’s stock.

About NVIDIA

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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