NVIDIA (NVDA) PT Lowered to $260.00 at Royal Bank of Canada
NVIDIA (NASDAQ:NVDA) had its price target reduced by Royal Bank of Canada to $260.00 in a research report sent to investors on Friday, The Fly reports. They currently have an outperform rating on the computer hardware maker’s stock.
NVDA has been the subject of several other reports. Argus reiterated a buy rating and set a $300.00 target price on shares of NVIDIA in a research note on Friday, October 12th. Goldman Sachs Group upgraded NVIDIA from a buy rating to a conviction-buy rating and reduced their target price for the stock from $324.00 to $305.00 in a research note on Thursday, October 18th. Evercore ISI lifted their target price on NVIDIA from $300.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, September 28th. Tigress Financial reiterated a buy rating on shares of NVIDIA in a research note on Friday, October 5th. Finally, BidaskClub downgraded NVIDIA from a buy rating to a hold rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. NVIDIA currently has an average rating of Buy and an average target price of $261.28.
Shares of NASDAQ NVDA opened at $161.74 on Friday. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21. NVIDIA has a 12 month low of $161.61 and a 12 month high of $292.76. The company has a market cap of $100.30 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.16 and a beta of 2.01.
The business also recently disclosed 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. The ex-dividend date of this dividend 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 0.40%. NVIDIA’s payout ratio is currently 12.85%.
In other news, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction 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 owns 297,482 shares of the company’s stock, valued at approximately $79,222,431.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock valued at $32,347,973 over the last ninety days. Insiders own 4.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of NVDA. Fisher Asset Management LLC raised its holdings in shares of NVIDIA by 33.4% during the 2nd quarter. Fisher Asset Management LLC now owns 2,261 shares of the computer hardware maker’s stock worth $536,000 after buying an additional 566 shares in the last quarter. Cornerstone Advisors Inc. grew its position in NVIDIA by 22.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,835 shares of the computer hardware maker’s stock worth $672,000 after acquiring an additional 511 shares during the last quarter. Sit Investment Associates Inc. grew its position in NVIDIA by 2.9% during the 2nd quarter. Sit Investment Associates Inc. now owns 25,365 shares of the computer hardware maker’s stock worth $6,009,000 after acquiring an additional 725 shares during the last quarter. GWM Advisors LLC grew its position in NVIDIA by 6.8% during the 2nd quarter. GWM Advisors LLC now owns 6,982 shares of the computer hardware maker’s stock worth $1,691,000 after acquiring an additional 446 shares during the last quarter. Finally, Howard Capital Management grew its position in NVIDIA by 3.1% during the 2nd quarter. Howard Capital Management now owns 40,140 shares of the computer hardware maker’s stock worth $9,509,000 after acquiring an additional 1,225 shares during the last quarter. 66.12% of the stock is owned by institutional investors.
NVIDIA Company Profile
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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