NVIDIA Corporation (NVDA) Trading Up 6.3% on Analyst Upgrade
NVIDIA Corporation (NASDAQ:NVDA) was up 6.3% on Friday after Evercore ISI raised their price target on the stock from $180.00 to $250.00. Evercore ISI currently has an outperform rating on the stock. NVIDIA Corporation traded as high as $180.11 and last traded at $180.11. Approximately 34,084,219 shares were traded during mid-day trading, an increase of 92% from the average daily volume of 17,781,400 shares. The stock had previously closed at $169.40.
Other equities research analysts have also recently issued research reports about the stock. Bank of America Corporation upped their price objective on shares of NVIDIA Corporation from $138.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. UBS AG restated a “buy” rating and issued a $148.00 price objective (up previously from $135.00) on shares of NVIDIA Corporation in a report on Friday, May 19th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of NVIDIA Corporation in a report on Friday, May 19th. Citigroup Inc. restated a “buy” rating on shares of NVIDIA Corporation in a report on Tuesday, May 30th. Finally, Vetr upgraded shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $143.94 price target on the stock in a report on Thursday, May 25th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA Corporation presently has an average rating of “Hold” and a consensus price target of $149.13.
In other NVIDIA Corporation news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total value of $18,268,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at $4,900,694.22. The disclosure for this sale can be found here. Insiders sold a total of 502,210 shares of company stock valued at $79,743,664 over the last three months. Corporate insiders own 5.82% of the company’s stock.
Large investors have recently modified their holdings of the business. Meiji Yasuda Life Insurance Co grew its stake in shares of NVIDIA Corporation by 9.9% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after buying an additional 1,000 shares in the last quarter. RB Capital Management LLC purchased a new position in shares of NVIDIA Corporation in the 2nd quarter worth $272,000. Oppenheimer Asset Management Inc. grew its stake in shares of NVIDIA Corporation by 17.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after buying an additional 2,836 shares in the last quarter. D. Scott Neal Inc. purchased a new position in shares of NVIDIA Corporation in the 2nd quarter worth $258,000. Finally, Girard Partners LTD. grew its stake in shares of NVIDIA Corporation by 7.7% in the 2nd quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock worth $448,000 after buying an additional 221 shares in the last quarter. 65.85% of the stock is owned by institutional investors and hedge funds.
The company has a 50-day moving average price of $166.30 and a 200 day moving average price of $136.97. The firm has a market capitalization of $108.07 billion, a price-to-earnings ratio of 51.80 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post $3.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
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NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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