NVIDIA’s (NVDA) Buy Rating Reiterated at Bank of America
Bank of America restated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Monday, AnalystRatings.com reports. Bank of America currently has a $650.00 price target on the computer hardware maker’s stock.
NVDA has been the subject of several other reports. JPMorgan Chase & Co. raised their price target on NVIDIA from $405.00 to $510.00 and gave the company an overweight rating in a report on Thursday, August 20th. Citigroup raised their price target on NVIDIA from $392.00 to $540.00 and gave the company a buy rating in a report on Thursday, August 20th. Deutsche Bank raised their price target on NVIDIA from $405.00 to $450.00 and gave the company a hold rating in a report on Thursday, August 20th. Oppenheimer restated a buy rating and set a $550.00 price target on shares of NVIDIA in a report on Monday. Finally, BofA Securities raised their price target on NVIDIA from $600.00 to $650.00 and gave the company a buy rating in a report on Wednesday, September 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-one have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $512.97.
NVDA opened at $500.58 on Monday. The stock has a fifty day simple moving average of $480.89 and a two-hundred day simple moving average of $359.48. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50. The company has a market cap of $308.86 billion, a price-to-earnings ratio of 92.02, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53. NVIDIA has a 12-month low of $169.32 and a 12-month high of $589.07.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.13%. NVIDIA’s payout ratio is currently 13.94%.
In related news, Director Mark A. Stevens sold 18,166 shares of NVIDIA stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $372.21, for a total transaction of $6,761,566.86. Following the sale, the director now owns 161,257 shares of the company’s stock, valued at approximately $60,021,467.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 22,400 shares of NVIDIA stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $378.55, for a total value of $8,479,520.00. Following the sale, the director now directly owns 161,257 shares in the company, valued at approximately $61,043,837.35. The disclosure for this sale can be found here. Insiders have sold a total of 348,373 shares of company stock worth $152,440,424 in the last three months. 4.47% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Hoover Financial Advisors Inc. bought a new stake in NVIDIA during the 2nd quarter valued at approximately $32,000. Atlantic Trust LLC increased its stake in NVIDIA by 46.9% in the 2nd quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 30 shares during the last quarter. Ellevest Inc. increased its stake in NVIDIA by 256.7% in the 2nd quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 77 shares during the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in NVIDIA in the 2nd quarter worth approximately $50,000. Finally, Campbell Wealth Management bought a new stake in NVIDIA in the 2nd quarter worth approximately $55,000. 68.11% of the stock is currently owned by institutional investors.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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