Nvidia Corp. (NVDA) Shares Down 1.4%
Shares of Nvidia Corp. (NASDAQ:NVDA) were down 1.4% on Friday . The company traded as low as $62.16 and last traded at $62.29, with a volume of 4,802,149 shares changing hands. The stock had previously closed at $63.15.
A number of analysts have recently weighed in on NVDA shares. Topeka Capital Markets upgraded shares of Nvidia Corp. from a “hold” rating to a “buy” rating and raised their price target for the company from $36.00 to $44.00 in a report on Friday, May 13th. MKM Partners raised their price target on shares of Nvidia Corp. from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 13th. Roth Capital upgraded shares of Nvidia Corp. from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.50 to $40.00 in a report on Friday, May 13th. B. Riley restated a “buy” rating and issued a $44.00 price target on shares of Nvidia Corp. in a report on Monday, May 9th. Finally, Bank of America Corp. restated a “buy” rating and issued a $43.00 price target on shares of Nvidia Corp. in a report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.89.
The company has a market capitalization of $33.45 billion and a price-to-earnings ratio of 41.08. The company has a 50-day moving average price of $58.60 and a 200 day moving average price of $44.19.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue was up 23.9% on a year-over-year basis. On average, analysts predict that Nvidia Corp. will post $1.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, August 25th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 23rd.
In related news, CFO Colette Kress sold 38,039 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $62.18, for a total transaction of $2,365,265.02. Following the sale, the chief financial officer now owns 512,374 shares of the company’s stock, valued at $31,859,415.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 40,000 shares of the stock in a transaction on Friday, June 10th. The shares were sold at an average price of $46.49, for a total value of $1,859,600.00. Following the sale, the chief executive officer now directly owns 1,817,279 shares in the company, valued at approximately $84,485,300.71. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Nvidia Corp. stock. Employees Retirement System of Texas increased its position in shares of Nvidia Corp. (NASDAQ:NVDA) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,700 shares of the computer hardware maker’s stock after buying an additional 8,700 shares during the period. Employees Retirement System of Texas’ holdings in Nvidia Corp. were worth $1,473,000 as of its most recent SEC filing.
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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