NVIDIA (NVDA) Earns “Buy” Rating from Daiwa Capital Markets
A number of other equities research analysts have also commented on NVDA. Goldman Sachs Group increased their price target on NVIDIA from $310.00 to $324.00 and gave the company a buy rating in a research report on Tuesday, August 7th. BidaskClub raised NVIDIA from a buy rating to a strong-buy rating in a research report on Friday, August 10th. Wells Fargo & Co upgraded NVIDIA from an underperform rating to an outperform rating and upped their price objective for the company from $140.00 to $315.00 in a research note on Tuesday, August 14th. UBS Group upgraded NVIDIA from a market perform rating to an outperform rating in a research note on Friday, August 17th. Finally, Stifel Nicolaus restated a hold rating and issued a $250.00 price objective (up previously from $243.00) on shares of NVIDIA in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. NVIDIA has an average rating of Buy and a consensus target price of $261.28.
NASDAQ NVDA opened at $135.47 on Monday. The firm has a market capitalization of $100.30 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.16 and a beta of 2.01. NVIDIA has a 12 month low of $144.63 and a 12 month high of $292.76. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 30th will be paid a dividend of $0.16 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.47%. NVIDIA’s dividend payout ratio is presently 12.85%.
In related news, 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 transaction of $26,281,949.85. Following the sale, the executive vice president now owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. 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 dated Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the sale, the insider now directly owns 81,414 shares in the company, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. Insiders have sold a total of 113,707 shares of company stock worth $32,347,973 in the last three months. 4.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kwmg LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at about $105,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. purchased a new stake in shares of NVIDIA in the 2nd quarter valued at about $127,000. Ropes Wealth Advisors LLC raised its holdings in shares of NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after acquiring an additional 500 shares in the last quarter. Finally, JFS Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $141,000. 66.12% of the stock is currently owned by institutional investors and hedge funds.
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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