NVIDIA Corporation (NVDA) Stock Price Up -1.2% on Analyst Upgrade
NVIDIA Corporation (NASDAQ:NVDA) rose 1.2% on Monday after BMO Capital Markets upgraded the stock from an underperform rating to a market perform rating. BMO Capital Markets now has a $216.14 price target on the stock, down from their previous price target of $218.67. NVIDIA Corporation traded as high as $218.67 and last traded at $213.51. Approximately 10,692,633 shares were traded during trading, a decline of 40% from the average daily volume of 17,773,291 shares. The stock had previously closed at $216.14.
A number of other brokerages have also recently issued reports on NVDA. Mizuho reiterated a “buy” rating and set a $180.00 price objective (up previously from $170.00) on shares of NVIDIA Corporation in a research note on Friday, August 11th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $140.00 price objective on shares of NVIDIA Corporation in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of NVIDIA Corporation in a research note on Sunday, November 5th. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price objective for the company. in a research note on Thursday, August 31st. Finally, Canaccord Genuity restated a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of NVIDIA Corporation in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $185.41.
In other news, insider Michael Byron sold 409 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the sale, the insider now directly owns 136,199 shares in the company, valued at $23,291,390.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Debora Shoquist sold 33,498 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $189.24, for a total value of $6,339,161.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 436,503 shares of company stock worth $78,796,295. Company insiders own 5.17% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. grew its stake in NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares in the last quarter. Family Firm Inc. boosted its position in NVIDIA Corporation by 0.7% during the 2nd quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock valued at $284,000 after acquiring an additional 13 shares in the last quarter. Appleton Partners Inc. MA boosted its position in NVIDIA Corporation by 1.2% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after acquiring an additional 30 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its position in NVIDIA Corporation by 0.4% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 7,371 shares of the computer hardware maker’s stock valued at $1,212,000 after acquiring an additional 30 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in NVIDIA Corporation by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,872 shares of the computer hardware maker’s stock valued at $271,000 after acquiring an additional 33 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.
The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The company has a market cap of $127,860.00, a PE ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.39. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. equities analysts expect that NVIDIA Corporation will post 3.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a $0.15 dividend. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 14.00%.
About NVIDIA Corporation
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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