NVIDIA Corporation (NASDAQ:NVDA) had its price target boosted by Goldman Sachs Group, Inc. (The) from $193.00 to $217.00 in a research report sent to investors on Wednesday morning. They currently have a buy rating on the computer hardware maker’s stock.
Several other research firms have also recently weighed in on NVDA. Mizuho reissued a buy rating and issued a $180.00 target price (up from $170.00) on shares of NVIDIA Corporation in a research note on Friday, August 11th. Susquehanna Bancshares Inc reissued a neutral rating and issued a $140.00 target price on shares of NVIDIA Corporation in a research note on Wednesday, August 16th. Bank of America Corporation reissued a buy rating and issued a $185.00 target price on shares of NVIDIA Corporation in a research note on Wednesday, June 21st. Vetr cut shares of NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 target price for the company. in a research note on Thursday, August 31st. Finally, Zacks Investment Research raised shares of NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 target price for the company in a research note on Tuesday, July 11th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $157.88.
NVIDIA Corporation (NASDAQ NVDA) traded up 0.05% during mid-day trading on Wednesday, reaching $191.03. 13,124,738 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $174.59 and a 200-day moving average price of $147.40. NVIDIA Corporation has a 1-year low of $63.70 and a 1-year high of $193.09. The stock has a market cap of $114.62 billion, a P/E ratio of 54.94 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last released its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the 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 business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue was up 56.2% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post $3.64 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is presently 15.86%.
In other NVIDIA Corporation news, Director Mark L. Perry sold 16,281 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the transaction, the director now directly owns 48,069 shares in the company, valued at approximately $7,798,714.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jen Hsun Huang sold 110,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The disclosure for this sale can be found here. Insiders sold 452,784 shares of company stock worth $81,437,724 over the last quarter. 5.82% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Evercore Wealth Management LLC boosted its holdings in shares of NVIDIA Corporation by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after buying an additional 206 shares in the last quarter. TB Alternative Assets Ltd. bought a new position in shares of NVIDIA Corporation during the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC boosted its holdings in shares of NVIDIA Corporation by 186.1% during the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. boosted its holdings in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after buying an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. boosted its holdings in shares of NVIDIA Corporation by 12.7% during the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 65.79% of the company’s stock.
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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