Canaccord Genuity reaffirmed their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a report released on Friday, The Fly reports. Canaccord Genuity currently has a $225.00 price target on the computer hardware maker’s stock, up from their previous price target of $190.00.
NVDA has been the topic of several other research reports. Vetr lowered NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 price objective on the stock. in a report on Thursday, August 31st. Credit Suisse Group reissued an outperform rating on shares of NVIDIA Corporation in a report on Thursday, August 31st. Goldman Sachs Group, Inc. (The) lifted their price objective on NVIDIA Corporation from $193.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, October 11th. B. Riley lifted their price objective on NVIDIA Corporation from $200.00 to $250.00 and gave the stock a buy rating in a report on Monday, November 6th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $200.00 price target on shares of NVIDIA Corporation in a research note on Thursday, September 28th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $185.41.
Shares of NVIDIA Corporation (NVDA) traded up $10.82 during trading hours on Friday, hitting $216.14. The stock had a trading volume of 31,331,300 shares, compared to its average volume of 13,613,651. NVIDIA Corporation has a one year low of $78.50 and a one year high of $218.67. The firm has a market cap of $129,684.00, a price-to-earnings ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm earned $0.94 EPS. NVIDIA Corporation’s revenue for the quarter was up 31.5% compared to the same quarter last year. equities research analysts anticipate that NVIDIA Corporation will post 3.61 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.28%. NVIDIA Corporation’s dividend payout ratio is 13.90%.
In related news, 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 transaction of $18,268,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $170.19, for a total value of $5,105,700.00. Following the transaction, the director now directly owns 16,507 shares of the company’s stock, valued at $2,809,326.33. The disclosure for this sale can be found here. Insiders have sold 436,503 shares of company stock valued at $78,796,295 over the last three months. Insiders own 5.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Welch Investments LLC bought a new stake in NVIDIA Corporation in the third quarter valued at approximately $104,000. Evercore Wealth Management LLC raised its stake in NVIDIA Corporation by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 206 shares during the period. TB Alternative Assets Ltd. bought a new stake in NVIDIA Corporation in the second quarter valued at approximately $116,000. Proficio Capital Partners LLC raised its stake in NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after buying an additional 547 shares during the period. Finally, Thompson Davis & CO. Inc. raised its stake in NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.
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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