NVIDIA (NASDAQ:NVDA) Price Target Increased to $275.00 by Analysts at Bank of America

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NVIDIA (NASDAQ:NVDA) had its target price raised by Bank of America from $250.00 to $275.00 in a research report sent to investors on Friday morning, Briefing.com Automated Import reports. Bank of America currently has a buy rating on the computer hardware maker’s stock.

Other equities analysts have also recently issued research reports about the company. Benchmark lifted their price objective on NVIDIA from $210.00 to $240.00 and gave the company a buy rating in a report on Friday. Cascend Securities lifted their price objective on NVIDIA from $220.00 to $240.00 and gave the company a buy rating in a report on Tuesday, November 12th. Mizuho lifted their price objective on NVIDIA from $185.00 to $230.00 and gave the company a buy rating in a report on Friday. Oppenheimer lifted their price objective on NVIDIA from $190.00 to $250.00 and gave the company an outperform rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada lifted their price objective on NVIDIA from $217.00 to $251.00 and gave the company an outperform rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the stock. NVIDIA has an average rating of Buy and a consensus price target of $216.69.

NVDA traded down $4.08 during midday trading on Friday, reaching $208.20. 436,344 shares of the company were exchanged, compared to its average volume of 8,276,448. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.71 and a current ratio of 8.42. NVIDIA has a one year low of $124.46 and a one year high of $213.35. The stock has a market capitalization of $124.96 billion, a P/E ratio of 34.15, a PEG ratio of 5.25 and a beta of 2.06. The stock’s 50-day simple moving average is $195.53 and its 200 day simple moving average is $170.83.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.21. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $1.84 EPS. NVIDIA’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts anticipate that NVIDIA will post 4.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, November 27th. NVIDIA’s dividend payout ratio (DPR) is 10.54%.

In other NVIDIA news, Director Persis Drell sold 165 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $180.45, for a total transaction of $29,774.25. Following the transaction, the director now owns 18,019 shares of the company’s stock, valued at approximately $3,251,528.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 31,357 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value of $5,613,216.57. The disclosure for this sale can be found here. Insiders have sold a total of 63,883 shares of company stock worth $11,206,817 in the last ninety days. Insiders own 4.64% of the company’s stock.

Several large investors have recently bought and sold shares of NVDA. Private Trust Co. NA increased its holdings in shares of NVIDIA by 5.0% in the 2nd quarter. Private Trust Co. NA now owns 1,905 shares of the computer hardware maker’s stock valued at $312,000 after purchasing an additional 91 shares during the period. Fulton Bank N.A. increased its holdings in NVIDIA by 18.1% in the second quarter. Fulton Bank N.A. now owns 23,938 shares of the computer hardware maker’s stock worth $3,932,000 after buying an additional 3,673 shares during the last quarter. Woodstock Corp increased its holdings in NVIDIA by 40.3% in the second quarter. Woodstock Corp now owns 17,709 shares of the computer hardware maker’s stock worth $2,908,000 after buying an additional 5,085 shares during the last quarter. Montecito Bank & Trust increased its holdings in NVIDIA by 1.9% in the second quarter. Montecito Bank & Trust now owns 8,791 shares of the computer hardware maker’s stock worth $1,443,000 after buying an additional 166 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in NVIDIA by 4.8% during the second quarter. Douglas Lane & Associates LLC now owns 339,686 shares of the computer hardware maker’s stock worth $55,787,000 after purchasing an additional 15,472 shares during the period. 64.56% of the stock is currently owned by hedge funds and other institutional investors.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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