NVIDIA (NVDA) Price Target Cut to $200.00
NVIDIA (NASDAQ:NVDA) had its price target cut by Nomura from $225.00 to $200.00 in a research report sent to investors on Friday. They currently have a neutral rating on the computer hardware maker’s stock.
A number of other research firms also recently weighed in on NVDA. BidaskClub upgraded NVIDIA from a buy rating to a strong-buy rating in a research report on Saturday, August 25th. Benchmark reiterated a buy rating and issued a $310.00 price objective (up previously from $280.00) on shares of NVIDIA in a report on Thursday, September 20th. Needham & Company LLC upped their price objective on NVIDIA from $325.00 to $350.00 and gave the company a buy rating in a report on Friday, September 14th. Tigress Financial reiterated a buy rating on shares of NVIDIA in a report on Friday, October 5th. Finally, Evercore ISI upped their price objective on NVIDIA from $300.00 to $400.00 and gave the company an outperform rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have given a buy rating to the stock. NVIDIA has an average rating of Buy and a consensus target price of $260.94.
Shares of NVDA stock traded down $37.96 on Friday, reaching $164.43. 49,039,568 shares of the stock were exchanged, compared to its average volume of 14,799,166. The company has a market cap of $119.89 billion, a P/E ratio of 30.10, a PEG ratio of 2.59 and a beta of 2.01. NVIDIA has a one year low of $161.61 and a one year high of $292.76. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be issued a $0.16 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 29th. NVIDIA’s dividend payout ratio is 12.85%.
In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $266.31, for a total value of $3,082,804.56. Following the completion of the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at $79,222,431.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the sale, the executive vice president now owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Insiders sold 113,707 shares of company stock valued at $32,347,973 over the last 90 days. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in NVDA. Kwmg LLC acquired a new position in shares of NVIDIA during the second quarter worth about $105,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of NVIDIA during the third quarter worth about $124,000. Almanack Investment Partners LLC. acquired a new position in shares of NVIDIA during the second quarter worth about $127,000. Ropes Wealth Advisors LLC boosted its position in shares of NVIDIA by 561.8% during the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after buying an additional 500 shares during the period. Finally, JFS Wealth Advisors LLC acquired a new position in shares of NVIDIA during the third quarter worth about $141,000. Institutional investors own 65.85% of the company’s stock.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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