NVIDIA (NVDA) Price Target Cut to $190.00 by Analysts at Deutsche Bank
NVIDIA (NASDAQ:NVDA) had its target price cut by Deutsche Bank from $260.00 to $190.00 in a research note issued to investors on Friday morning. They currently have a hold rating on the computer hardware maker’s stock.
NVDA has been the topic of several other reports. Argus restated a buy rating and set a $300.00 price target on shares of NVIDIA in a report on Friday, October 12th. Goldman Sachs Group upgraded NVIDIA from a buy rating to a conviction-buy rating and reduced their price target for the stock from $324.00 to $305.00 in a report on Thursday, October 18th. Evercore ISI boosted their price target on NVIDIA from $300.00 to $400.00 and gave the stock an outperform rating in a report on Friday, September 28th. Tigress Financial restated a buy rating on shares of NVIDIA in a report on Friday, October 5th. Finally, BidaskClub cut NVIDIA from a buy rating to a hold rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $261.28.
Shares of NASDAQ NVDA opened at $144.70 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.08 and a quick ratio of 6.20. The stock has a market cap of $100.30 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth 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 also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 29th. 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 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 completion of the sale, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Byron sold 11,257 shares of the stock in a transaction 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 completion of the sale, 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 worth $32,347,973 over the last ninety days. 4.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Holderness Investments Co. raised its position in NVIDIA by 3.2% in the 2nd quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock valued at $1,535,000 after buying an additional 200 shares during the last quarter. Grimes & Company Inc. raised its position in NVIDIA by 9.0% in the 2nd quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock valued at $588,000 after buying an additional 205 shares during the last quarter. Charter Trust Co. raised its position in NVIDIA by 4.9% in the 2nd quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock valued at $1,059,000 after buying an additional 207 shares during the last quarter. LVW Advisors LLC raised its position in NVIDIA by 11.7% in the 2nd quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock valued at $476,000 after buying an additional 210 shares during the last quarter. Finally, Security National Bank raised its position in NVIDIA by 0.9% in the 3rd quarter. Security National Bank now owns 25,118 shares of the computer hardware maker’s stock valued at $7,059,000 after buying an additional 212 shares during the last quarter. 66.12% of the stock is 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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