Wedbush reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Friday morning, Stock Target Advisor reports. They currently have a $243.00 price objective on the computer hardware maker’s stock.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. set a $200.00 price target on NVIDIA and gave the stock a buy rating in a research note on Friday, August 16th. ValuEngine downgraded NVIDIA from a strong-buy rating to a buy rating in a research note on Monday, November 11th. Wells Fargo & Co lifted their price target on NVIDIA from $220.00 to $240.00 and gave the stock an outperform rating in a research note on Friday. Citigroup lifted their price target on NVIDIA from $200.00 to $245.00 and gave the stock a buy rating in a research note on Friday. Finally, Barclays lifted their price target on NVIDIA from $170.00 to $225.00 and gave the stock an overweight rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $216.69.
Shares of NVIDIA stock traded down $4.40 during trading on Friday, reaching $207.88. The company’s stock had a trading volume of 580,350 shares, compared to its average volume of 8,276,448. The firm has a market cap of $124.96 billion, a PE ratio of 34.25, a P/E/G ratio of 5.25 and a beta of 2.06. The company has a current ratio of 8.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.22. NVIDIA has a fifty-two week low of $124.46 and a fifty-two week high of $213.35. The company has a 50-day moving average price of $195.53 and a two-hundred day moving average price of $170.83.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 14th. The computer hardware maker reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.21. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. On average, analysts predict that NVIDIA will post 4.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 27th. NVIDIA’s dividend payout ratio is currently 10.54%.
In other news, CFO Colette Kress sold 31,357 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael G. Mccaffery sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $165.97, for a total value of $2,489,550.00. Following the sale, the director now owns 27,579 shares of the company’s stock, valued at approximately $4,577,286.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,883 shares of company stock valued at $11,206,817. Corporate insiders own 4.64% of the company’s stock.
Several large investors have recently modified their holdings of NVDA. Private Trust Co. NA grew its holdings in shares of NVIDIA by 5.0% during the 2nd quarter. Private Trust Co. NA now owns 1,905 shares of the computer hardware maker’s stock worth $312,000 after purchasing an additional 91 shares during the period. Fulton Bank N.A. grew its holdings in shares of NVIDIA by 18.1% during the 2nd quarter. Fulton Bank N.A. now owns 23,938 shares of the computer hardware maker’s stock worth $3,932,000 after purchasing an additional 3,673 shares during the period. Woodstock Corp grew its holdings in shares of NVIDIA by 40.3% during the 2nd quarter. Woodstock Corp now owns 17,709 shares of the computer hardware maker’s stock worth $2,908,000 after purchasing an additional 5,085 shares during the period. Montecito Bank & Trust grew its holdings in shares of NVIDIA by 1.9% during the 2nd quarter. Montecito Bank & Trust now owns 8,791 shares of the computer hardware maker’s stock worth $1,443,000 after purchasing an additional 166 shares during the period. Finally, Douglas Lane & Associates LLC grew its holdings in shares of NVIDIA by 4.8% during the 2nd quarter. Douglas Lane & Associates LLC now owns 339,686 shares of the computer hardware maker’s stock worth $55,787,000 after purchasing an additional 15,472 shares during the period. Institutional investors and hedge funds own 64.56% of the company’s stock.
NVIDIA Company Profile
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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