Nvidia Corp. (NVDA) Upgraded at Vetr Inc.
Vetr upgraded shares of Nvidia Corp. (NASDAQ:NVDA) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $69.40 target price on the computer hardware maker’s stock.
A number of other equities analysts have also issued reports on NVDA. B. Riley reiterated a buy rating and set a $58.00 target price on shares of Nvidia Corp. in a research report on Monday, July 11th. Oppenheimer Holdings Inc. restated a market perform rating on shares of Nvidia Corp. in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $58.59.
Nvidia Corp. (NASDAQ:NVDA) opened at 65.35 on Tuesday. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $69.70. The stock has a market capitalization of $34.96 billion, a PE ratio of 42.94 and a beta of 1.25. The firm’s 50-day moving average is $64.22 and its 200 day moving average is $50.82.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. 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 prior year, the business earned $0.34 earnings per share. Nvidia Corp.’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts forecast that Nvidia Corp. will post $1.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.70%. Nvidia Corp.’s payout ratio is presently 30.26%.
In related news, Director Tench Coxe sold 85,551 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $68.75, for a total transaction of $5,881,631.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Persis Drell sold 2,361 shares of the business’s stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $66.58, for a total transaction of $157,195.38. Following the transaction, the director now owns 27,152 shares in the company, valued at approximately $1,807,780.16. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. West Oak Capital LLC increased its position in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares during the last quarter. Brick & Kyle Associates increased its position 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 last quarter. Compagnie Lombard Odier SCmA increased its position 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 last quarter. CenturyLink Investment Management Co bought a new position in Nvidia Corp. during the third quarter worth about $183,000. Finally, Aviance Capital Management LLC bought a new position in Nvidia Corp. during the second quarter worth about $200,000. Institutional investors own 86.37% of the company’s stock.
About Nvidia Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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