NVIDIA (NVDA) Price Target Lowered to $245.00 at Mizuho
NVIDIA (NASDAQ:NVDA) had its target price cut by Mizuho from $295.00 to $245.00 in a research report sent to investors on Friday morning. They currently have a buy rating on the computer hardware maker’s stock.
NVDA has been the subject of a number of other reports. Deutsche Bank decreased their target price on NVIDIA from $260.00 to $190.00 and set a hold rating for the company in a research note on Friday. Royal Bank of Canada reduced their price objective on NVIDIA to $260.00 and set an outperform rating for the company in a research report on Friday. Needham & Company LLC upped their price objective on NVIDIA from $325.00 to $350.00 and gave the stock a buy rating in a research report on Friday, September 14th. Evercore ISI upped their price objective on NVIDIA from $300.00 to $400.00 and gave the stock an outperform rating in a research report on Friday, September 28th. Finally, B. Riley reaffirmed a neutral rating and set a $190.00 price objective (down from $240.00) on shares of NVIDIA in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $260.94.
NASDAQ:NVDA traded down $37.96 on Friday, reaching $164.43. The company’s stock had a trading volume of 49,039,568 shares, compared to its average volume of 14,799,166. NVIDIA has a 1-year low of $161.61 and a 1-year high of $292.76. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The stock has a market cap of $119.89 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.59 and a beta of 2.01.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 29th. This is a boost from NVIDIA’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.39%. NVIDIA’s dividend payout ratio is 12.85%.
In related news, CFO Colette Kress sold 11,576 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the completion of the transaction, the chief financial officer now directly owns 297,482 shares of the company’s stock, valued at $79,222,431.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Byron sold 11,257 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the transaction, the insider now directly owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The disclosure for this sale can be found here. Insiders have sold 113,707 shares of company stock valued at $32,347,973 over the last three months. Insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC bought a new stake in NVIDIA in the third quarter valued at approximately $124,000. Kwmg LLC bought a new stake in NVIDIA in the second quarter valued at approximately $105,000. JFS Wealth Advisors LLC bought a new stake in NVIDIA in the third quarter valued at approximately $141,000. Columbia Asset Management bought a new stake in NVIDIA in the third quarter valued at approximately $146,000. Finally, Almanack Investment Partners LLC. bought a new stake in NVIDIA in the second quarter valued at approximately $127,000. 65.85% of the stock is owned by hedge funds and other institutional investors.
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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