Nvidia Corp. (NVDA) Rating Lowered to Hold at Vetr Inc.
Nvidia Corp. (NASDAQ:NVDA) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a $69.67 price objective on the computer hardware maker’s stock. Vetr‘s price target would indicate a potential upside of 1.68% from the company’s current price.
A number of other research analysts also recently commented on the company. SunTrust Banks Inc. initiated coverage on Nvidia Corp. in a research note on Monday, September 19th. They set a “neutral” rating and a $59.00 price objective for the company. Susquehanna initiated coverage on Nvidia Corp. in a research note on Tuesday, September 20th. They set a “neutral” rating and a $66.00 price objective for the company. Brean Capital restated a “hold” rating on shares of Nvidia Corp. in a research note on Monday, August 15th. Nomura restated a “buy” rating and set a $62.50 price objective (up from $55.00) on shares of Nvidia Corp. in a research note on Monday, August 15th. Finally, B. Riley restated a “buy” rating and set a $73.00 price objective on shares of Nvidia Corp. in a research note on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $58.32.
Nvidia Corp. (NASDAQ:NVDA) opened at 68.52 on Thursday. The stock has a market cap of $36.66 billion, a PE ratio of 45.02 and a beta of 1.26. The stock has a 50 day moving average price of $63.00 and a 200-day moving average price of $48.79. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $69.19.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The business earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.34 EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. On average, analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Nvidia Corp.’s dividend payout ratio (DPR) is presently 30.26%.
In related news, Director Mark L. Perry sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total transaction of $1,852,550.00. Following the completion of the transaction, the director now owns 97,292 shares in the company, valued at approximately $5,149,665.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 82,269 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $65.74, for a total value of $5,408,364.06. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Brick & Kyle Associates increased its position in shares of Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock valued at $159,000 after buying an additional 1,415 shares during the last quarter. Aviance Capital Management LLC acquired a new position in shares of Nvidia Corp. during the second quarter valued at about $200,000. Stratos Wealth Partners LTD. acquired a new position in shares of Nvidia Corp. during the second quarter valued at about $201,000. Finally, Broderick Brian C acquired a new position in shares of Nvidia Corp. during the second quarter valued at about $209,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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