Bank of America Corporation reiterated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research note issued to investors on Thursday morning. Bank of America Corporation currently has a $185.00 price target on the computer hardware maker’s stock.
A number of other analysts also recently weighed in on NVDA. BidaskClub downgraded NVIDIA Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. Susquehanna Bancshares Inc restated a neutral rating on shares of NVIDIA Corporation in a report on Monday, July 3rd. Mizuho restated a buy rating and issued a $170.00 price objective (up from $145.00) on shares of NVIDIA Corporation in a report on Wednesday, June 28th. Wells Fargo & Company restated an underperform rating on shares of NVIDIA Corporation in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $175.00 price objective on shares of NVIDIA Corporation in a report on Thursday, June 22nd. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $129.58.
NVIDIA Corporation (NASDAQ NVDA) traded up 0.43% during midday trading on Thursday, hitting $154.36. The stock had a trading volume of 6,873,060 shares. NVIDIA Corporation has a 1-year low of $49.22 and a 1-year high of $168.50. The stock has a market cap of $91.84 billion, a price-to-earnings ratio of 51.82 and a beta of 1.23. The company has a 50-day moving average of $145.38 and a 200-day moving average of $115.28.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $0.46 EPS. NVIDIA Corporation’s revenue was up 48.7% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post $3.09 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. NVIDIA Corporation’s payout ratio is currently 18.60%.
In related news, Director A Brooke Seawell sold 3,107 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $140.00, for a total value of $434,980.00. Following the completion of the transaction, the director now directly owns 5,165 shares in the company, valued at approximately $723,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 81,931 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $139.90, for a total transaction of $11,462,146.90. Following the completion of the transaction, the executive vice president now owns 564,696 shares of the company’s stock, valued at $79,000,970.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 522,282 shares of company stock valued at $78,275,082. 5.17% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares in the last quarter. Vanguard Group Inc. raised its position in NVIDIA Corporation by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock worth $4,093,612,000 after buying an additional 2,597,209 shares in the last quarter. Ameriprise Financial Inc. raised its position in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares in the last quarter. Winslow Capital Management LLC acquired a new position in NVIDIA Corporation during the first quarter worth $126,231,000. Finally, WINTON GROUP Ltd raised its position in NVIDIA Corporation by 290.5% in the first quarter. WINTON GROUP Ltd now owns 1,552,770 shares of the computer hardware maker’s stock worth $106,396,000 after buying an additional 1,155,115 shares in the last quarter. Institutional investors and hedge funds own 70.08% 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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