NVIDIA (NASDAQ:NVDA) Shares Up 6.4%

NVIDIA Co. (NASDAQ:NVDAGet Rating)’s share price shot up 6.4% during trading on Wednesday . The company traded as high as $140.28 and last traded at $140.15. 1,746,452 shares changed hands during trading, a decline of 97% from the average session volume of 58,333,024 shares. The stock had previously closed at $131.76.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Benchmark cut their target price on shares of NVIDIA from $228.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Bank of America cut their target price on shares of NVIDIA from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Susquehanna cut their target price on shares of NVIDIA from $200.00 to $190.00 and set a “positive” rating for the company in a research note on Wednesday. Cowen cut their target price on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Finally, Craig Hallum lowered their price target on shares of NVIDIA from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.91.

NVIDIA Trading Down 5.3 %

The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $312.77 billion, a P/E ratio of 41.18, a P/E/G ratio of 4.35 and a beta of 1.69. The firm’s 50 day simple moving average is $162.82 and its two-hundred day simple moving average is $185.71.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.70 billion. NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.49 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Wednesday, September 7th. NVIDIA’s payout ratio is presently 5.25%.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Rather & Kittrell Inc. purchased a new position in NVIDIA during the fourth quarter worth about $26,000. Emerson Wealth LLC purchased a new position in NVIDIA during the first quarter worth about $27,000. Roble Belko & Company Inc boosted its holdings in NVIDIA by 550.0% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 88 shares during the last quarter. Clear Perspectives Financial Planning LLC purchased a new position in NVIDIA during the first quarter worth about $28,000. Finally, TFO TDC LLC purchased a new position in NVIDIA during the second quarter worth about $28,000. 62.58% of the stock is owned by institutional investors.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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