NVIDIA (NVDA) Given New $235.00 Price Target at MKM Partners
NVIDIA (NASDAQ:NVDA) had its price target cut by MKM Partners to $235.00 in a report released on Friday, The Fly reports. They currently have a neutral rating on the computer hardware maker’s stock.
Several other research analysts have also recently weighed in on the company. Stifel Nicolaus lowered their target price on NVIDIA from $250.00 to $200.00 and set a hold rating on the stock in a report on Friday. BMO Capital Markets lowered their target price on NVIDIA from $225.00 to $175.00 and set a market perform rating on the stock in a report on Friday. Oppenheimer lowered their target price on NVIDIA from $310.00 to $250.00 and set an outperform rating on the stock in a report on Friday. Raymond James lowered their target price on NVIDIA from $300.00 to $250.00 and set a buy rating on the stock in a report on Friday. Finally, Barclays lowered their target price on NVIDIA from $300.00 to $250.00 and set an overweight rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $261.28.
NASDAQ:NVDA opened at $144.70 on Friday. 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 has a market cap of $100.30 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.16 and a beta of 2.01.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be given a $0.16 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.44%. NVIDIA’s payout ratio is presently 12.85%.
In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 297,482 shares of the company’s stock, valued at $79,222,431.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were 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 directly owns 184,001 shares in the company, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. In the last three months, insiders sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Holderness Investments Co. raised its position in NVIDIA by 3.2% in the second quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock valued at $1,535,000 after purchasing an additional 200 shares during the period. Grimes & Company Inc. raised its position in NVIDIA by 9.0% in the second quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock valued at $588,000 after purchasing an additional 205 shares during the period. Charter Trust Co. increased its position in shares of NVIDIA by 4.9% during the second quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock worth $1,059,000 after acquiring an additional 207 shares during the period. LVW Advisors LLC increased its position in shares of NVIDIA by 11.7% during the second quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock worth $476,000 after acquiring an additional 210 shares during the period. Finally, Security National Bank increased its position in shares of NVIDIA by 0.9% during the third quarter. Security National Bank now owns 25,118 shares of the computer hardware maker’s stock worth $7,059,000 after acquiring an additional 212 shares during the period. 66.12% of the stock is currently 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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