BMO Capital Markets upgraded shares of NVIDIA Corporation (NASDAQ:NVDA) from an underperform rating to a market perform rating in a research note released on Monday morning. BMO Capital Markets currently has $216.14 price objective on the computer hardware maker’s stock, down from their prior price objective of $218.67.
A number of other brokerages have also recently issued reports on NVDA. SunTrust Banks, Inc. increased their price objective on shares of NVIDIA Corporation to $253.00 and gave the stock a buy rating in a research note on Friday, November 10th. Needham & Company LLC reissued a buy rating and issued a $250.00 price objective on shares of NVIDIA Corporation in a research note on Friday, November 10th. Bank of America Corporation increased their price objective on shares of NVIDIA Corporation from $210.00 to $251.00 and gave the stock a buy rating in a research note on Friday, November 10th. Barclays PLC increased their price objective on shares of NVIDIA Corporation from $200.00 to $225.00 and gave the stock an equal weight rating in a research note on Friday, November 10th. Finally, Raymond James Financial, Inc. increased their price objective on shares of NVIDIA Corporation and gave the stock an outperform rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $185.93.
NVIDIA Corporation (NASDAQ:NVDA) opened at $211.61 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. The firm has a market cap of $126,970.00, a P/E ratio of 51.72, a price-to-earnings-growth ratio of 4.54 and a beta of 1.23. NVIDIA Corporation has a 52-week low of $84.77 and a 52-week high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. sell-side analysts predict that NVIDIA Corporation will post 4.13 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. NVIDIA Corporation’s dividend payout ratio is currently 14.00%.
In other news, insider Michael Byron sold 409 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jen Hsun Huang sold 110,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Insiders have sold 451,503 shares of company stock valued at $81,997,895 over the last 90 days. 5.82% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in NVDA. First Financial Equity Corporation purchased a new stake in shares of NVIDIA Corporation in the first quarter valued at about $285,000. Bfsg LLC purchased a new stake in shares of NVIDIA Corporation in the first quarter valued at about $2,258,000. Janus Capital Management LLC grew its holdings in shares of 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 purchasing an additional 895,591 shares during the period. Tyrus Capital S.A.M. purchased a new stake in shares of NVIDIA Corporation in the first quarter valued at about $10,185,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of NVIDIA Corporation in the first quarter valued at about $2,660,000. 65.40% of the stock is owned by institutional investors and hedge funds.
NVIDIA Corporation Company Profile
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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