Nvidia Corp. (NVDA) Stock Price Up 1.2%
Nvidia Corp. (NASDAQ:NVDA) rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $53.73 and last traded at $53.59, with a volume of 6,450,436 shares trading hands. The stock had previously closed at $52.97.
NVDA has been the subject of several recent research reports. Wells Fargo & Co. cut Nvidia Corp. from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $19.09 to $46.70 in a research note on Friday. Vetr cut Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 price target for the company. in a research note on Monday, July 11th. Mizuho began coverage on Nvidia Corp. in a research note on Thursday, July 14th. They issued a “buy” rating and a $60.00 price target for the company. KeyCorp restated a “hold” rating on shares of Nvidia Corp. in a research note on Wednesday, July 6th. Finally, BMO Capital Markets restated a “hold” rating on shares of Nvidia Corp. in a research note on Sunday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.63.
The company has a 50-day moving average of $48.05 and a 200-day moving average of $37.20. The stock has a market cap of $28.57 billion and a PE ratio of 45.66.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.14. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts forecast that Nvidia Corp. will post $1.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Thursday, May 26th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, May 24th. This represents a $0.46 dividend on an annualized basis and a yield of 0.87%.
In other Nvidia Corp. news, CAO David M. Shannon sold 271,049 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $42.07, for a total transaction of $11,403,031.43. Following the completion of the sale, the chief accounting officer now directly owns 444,329 shares of the company’s stock, valued at $18,692,921.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Byron sold 19,347 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $43.38, for a total transaction of $839,272.86. Following the sale, the insider now directly owns 155,022 shares of the company’s stock, valued at $6,724,854.36. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Nvidia Corp. by 1.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,393 shares of the computer hardware maker’s stock worth $1,101,000 after buying an additional 494 shares during the period. Cowen Group Inc. boosted its stake in shares of Nvidia Corp. by 10.0% in the fourth quarter. Cowen Group Inc. now owns 33,525 shares of the computer hardware maker’s stock worth $1,105,000 after buying an additional 3,050 shares during the period. Bailard Inc. boosted its stake in shares of Nvidia Corp. by 243.0% in the fourth quarter. Bailard Inc. now owns 35,200 shares of the computer hardware maker’s stock worth $1,160,000 after buying an additional 24,937 shares during the period. Connective Capital Management LLC purchased a new stake in shares of Nvidia Corp. during the fourth quarter worth about $1,198,000. Finally, US Bancorp DE boosted its stake in shares of Nvidia Corp. by 2.5% in the fourth quarter. US Bancorp DE now owns 38,194 shares of the computer hardware maker’s stock worth $1,260,000 after buying an additional 947 shares during the period.
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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