Royal Bank of Canada reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Wednesday morning, Marketbeat reports. Royal Bank of Canada currently has a $285.00 target price on the computer hardware maker’s stock, up from their prior target price of $280.00.
A number of other analysts also recently issued reports on the stock. SunTrust Banks reaffirmed a buy rating and set a $305.00 price objective (up from $253.00) on shares of NVIDIA in a report on Friday, February 9th. Mizuho reaffirmed a buy rating and set a $225.00 price objective on shares of NVIDIA in a report on Tuesday, November 28th. Vetr raised shares of NVIDIA from a buy rating to a strong-buy rating and set a $218.94 price objective for the company in a report on Monday, January 1st. Canaccord Genuity lifted their price objective on shares of NVIDIA from $225.00 to $250.00 and gave the stock a buy rating in a report on Friday, November 17th. Finally, Morgan Stanley lifted their price objective on shares of NVIDIA from $222.00 to $258.00 and gave the stock an equal weight rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $212.38.
Shares of NVIDIA (NASDAQ:NVDA) traded up $0.62 during trading hours on Wednesday, reaching $249.36. 1,163,173 shares of the company’s stock traded hands, compared to its average volume of 16,092,413. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.34 and a current ratio of 8.03. NVIDIA has a 1 year low of $95.49 and a 1 year high of $254.50. The company has a market cap of $150,490.00, a P/E ratio of 53.96, a price-to-earnings-growth ratio of 3.88 and a beta of 1.43.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.56. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm posted $1.13 EPS. The firm’s revenue was up 34.0% compared to the same quarter last year. sell-side analysts forecast that NVIDIA will post 6.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, February 22nd. NVIDIA’s payout ratio is 13.02%.
In related news, Director Mark L. Perry sold 17,307 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.93, for a total transaction of $3,944,784.51. Following the transaction, the director now owns 30,762 shares in the company, valued at $7,011,582.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Persis Drell sold 606 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $197.07, for a total transaction of $119,424.42. Following the transaction, the director now owns 26,104 shares in the company, valued at approximately $5,144,315.28. The disclosure for this sale can be found here. Insiders sold 58,375 shares of company stock worth $14,002,701 in the last 90 days. Corporate insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Welch Investments LLC purchased a new position in shares of NVIDIA during the third quarter valued at about $104,000. Country Trust Bank increased its position in shares of NVIDIA by 490.0% during the fourth quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after buying an additional 490 shares during the period. Global Trust Asset Management LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at about $116,000. Clearbridge Investments LLC increased its position in shares of NVIDIA by 100.0% during the fourth quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock valued at $116,000 after buying an additional 300 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of NVIDIA by 67.3% during the fourth quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after buying an additional 255 shares during the period. Institutional investors own 67.01% of the company’s stock.
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Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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