BidaskClub upgraded shares of NVIDIA Corporation (NASDAQ:NVDA) from a buy rating to a strong-buy rating in a research note published on Tuesday, August 8th.
Several other equities analysts have also weighed in on the stock. Vetr upgraded shares of NVIDIA Corporation from a buy rating to a strong-buy rating and set a $174.03 price target for the company in a research report on Monday, June 12th. Zacks Investment Research raised shares of NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 price objective on the stock in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $130.00 price objective on shares of NVIDIA Corporation in a report on Friday, April 14th. Canaccord Genuity reaffirmed a buy rating on shares of NVIDIA Corporation in a report on Saturday, June 3rd. Finally, Mizuho reaffirmed a buy rating and set a $170.00 price objective (up from $145.00) on shares of NVIDIA Corporation in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company’s stock. NVIDIA Corporation has an average rating of Hold and an average target price of $145.00.
NVIDIA Corporation (NASDAQ:NVDA) opened at 161.50 on Tuesday. The firm’s 50-day moving average is $161.56 and its 200-day moving average is $129.36. NVIDIA Corporation has a 52-week low of $57.31 and a 52-week high of $174.56. The firm has a market cap of $96.42 billion, a price-to-earnings ratio of 46.45 and a beta of 1.24.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 56.2% compared to the same quarter last year. Analysts forecast that NVIDIA Corporation will post $3.60 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.35%. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
In related news, Director Mark L. Perry sold 16,281 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $162.24, for a total value of $2,641,429.44. Following the transaction, the director now directly owns 48,069 shares of the company’s stock, valued at approximately $7,798,714.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $164.53, for a total value of $8,226,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 560,556 shares of company stock worth $85,649,706. 5.82% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of NVDA. Vanguard Group Inc. raised its stake in NVIDIA Corporation by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after buying an additional 2,676,976 shares during the last quarter. Edgewood Management LLC raised its stake in NVIDIA Corporation by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after buying an additional 1,074,303 shares during the last quarter. Ameriprise Financial Inc. raised its stake in NVIDIA Corporation by 8.8% in the second quarter. Ameriprise Financial Inc. now owns 5,720,631 shares of the computer hardware maker’s stock valued at $827,110,000 after buying an additional 463,306 shares during the last quarter. Janus Capital Management LLC raised its stake in NVIDIA Corporation by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after buying an additional 895,591 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in NVIDIA Corporation by 19.3% in the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after buying an additional 768,200 shares during the last quarter. 68.55% of the stock is currently owned by institutional investors and hedge funds.
About NVIDIA Corporation
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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