NVIDIA (NASDAQ:NVDA - Free Report) had its target price upped by Bank of America from $165.00 to $190.00 in a research report sent to investors on Friday morning, Marketbeat reports. They currently have a buy rating on the computer hardware maker's stock.
Several other research analysts have also recently commented on the company. KeyCorp increased their price target on NVIDIA from $130.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Morgan Stanley restated an "overweight" rating and set a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.07.
View Our Latest Stock Report on NVDA
NVIDIA Stock Up 0.8 %
Shares of NASDAQ:NVDA traded up $1.07 during midday trading on Friday, reaching $138.00. 175,728,985 shares of the company were exchanged, compared to its average volume of 418,695,031. The firm has a market cap of $3.39 trillion, a PE ratio of 80.70, a P/E/G ratio of 1.20 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The stock has a fifty day simple moving average of $121.88 and a two-hundred day simple moving average of $112.19.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The business's revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA will post 2.65 earnings per share for the current year.
NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
NVIDIA Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is 2.34%.
Insiders Place Their Bets
In related news, CFO Colette Kress sold 66,670 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,996,270 shares of company stock worth $347,729,127. Company insiders own 4.23% of the company's stock.
Institutional Trading of NVIDIA
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Hamilton Wealth LLC grew its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its holdings in shares of NVIDIA by 2.5% during the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker's stock valued at $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its holdings in shares of NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock valued at $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker's stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its position in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker's stock valued at $594,000 after acquiring an additional 13 shares in the last quarter. 65.27% of the stock is owned by institutional investors.
About NVIDIA
(
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NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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