BidaskClub lowered shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.
NVDA has been the subject of a number of other reports. Vetr raised shares of NVIDIA from a buy rating to a strong-buy rating and set a $270.50 target price for the company in a research note on Thursday, March 1st. Zacks Investment Research raised shares of NVIDIA from a hold rating to a buy rating and set a $286.00 price target on the stock in a research report on Tuesday, May 15th. ValuEngine raised shares of NVIDIA from a hold rating to a buy rating in a research report on Monday, April 2nd. Argus boosted their price target on shares of NVIDIA from $250.00 to $280.00 and gave the stock a buy rating in a research report on Thursday, March 22nd. They noted that the move was a valuation call. Finally, Morgan Stanley reissued an overweight rating and set a $273.00 price target on shares of NVIDIA in a research report on Friday, May 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $264.62.
Shares of NASDAQ NVDA opened at $236.90 on Tuesday. The firm has a market capitalization of $146.20 billion, a P/E ratio of 50.73, a P/E/G ratio of 3.32 and a beta of 1.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82. NVIDIA has a 1-year low of $138.58 and a 1-year high of $269.20.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.58. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $2.88 billion. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. The company’s revenue for the quarter was up 65.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. sell-side analysts expect that NVIDIA will post 7.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 24th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, May 23rd. This represents a $0.60 annualized dividend and a yield of 0.25%. NVIDIA’s dividend payout ratio is currently 12.85%.
In other NVIDIA news, CFO Colette Kress sold 889 shares of the stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $257.64, for a total value of $229,041.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the completion of the transaction, the director now directly owns 31,725 shares in the company, valued at $7,680,939.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,308 shares of company stock worth $77,491,336. Insiders own 4.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NVDA. OppenheimerFunds Inc. grew its position in shares of NVIDIA by 14.0% during the 4th quarter. OppenheimerFunds Inc. now owns 7,272 shares of the computer hardware maker’s stock worth $1,407,000 after purchasing an additional 895 shares in the last quarter. Martingale Asset Management L P grew its position in shares of NVIDIA by 15.1% during the 4th quarter. Martingale Asset Management L P now owns 8,405 shares of the computer hardware maker’s stock worth $1,627,000 after purchasing an additional 1,102 shares in the last quarter. Stansberry Asset Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $2,171,000. Commerce Bank grew its position in shares of NVIDIA by 6.7% during the 4th quarter. Commerce Bank now owns 9,714 shares of the computer hardware maker’s stock worth $1,880,000 after purchasing an additional 611 shares in the last quarter. Finally, Harvest Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $581,000. 65.03% of the stock is currently owned by hedge funds and other institutional investors.
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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