Nvidia Corp. (NVDA) Given “Buy” Rating at Bank of America Corp.
Bank of America Corp. reiterated their buy rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a report published on Monday. Bank of America Corp. currently has a $80.00 price target on the computer hardware maker’s stock.
A number of other research firms also recently commented on NVDA. Jefferies Group boosted their price target on shares of Nvidia Corp. from $56.00 to $69.00 and gave the stock a buy rating in a research report on Monday, August 8th. RBC Capital Markets restated an outperform rating and set a $72.00 price target on shares of Nvidia Corp. in a research report on Wednesday, August 31st. B. Riley restated a buy rating and set a $58.00 price target on shares of Nvidia Corp. in a research report on Monday, July 11th. Goldman Sachs Group Inc. boosted their price target on shares of Nvidia Corp. to $70.00 and gave the stock a buy rating in a research report on Friday, August 12th. Finally, BMO Capital Markets reiterated a hold rating and issued a $59.00 target price on shares of Nvidia Corp. in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the stock. Nvidia Corp. has a consensus rating of Hold and a consensus target price of $58.60.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 1.15% during trading on Monday, hitting $69.24. 1,456,542 shares of the company’s stock were exchanged. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $69.70. The stock’s 50 day moving average is $63.15 and its 200 day moving average is $49.28. The firm has a market capitalization of $37.04 billion, a PE ratio of 45.49 and a beta of 1.25.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $0.34 EPS. Nvidia Corp.’s revenue was up 23.9% on a year-over-year basis. On average, equities research analysts forecast that Nvidia Corp. will post $1.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio (DPR) is currently 30.26%.
In other news, insider Michael Byron sold 409 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 48,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $63.66, for a total value of $3,055,680.00. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NVDA. GSA Capital Partners LLP bought a new stake in shares of Nvidia Corp. during the second quarter valued at approximately $3,248,000. C M Bidwell & Associates Ltd. boosted its stake in shares of Nvidia Corp. by 760.2% in the first quarter. C M Bidwell & Associates Ltd. now owns 234,265 shares of the computer hardware maker’s stock valued at $8,347,000 after buying an additional 207,030 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Nvidia Corp. by 92.1% in the first quarter. Landscape Capital Management L.L.C. now owns 27,810 shares of the computer hardware maker’s stock valued at $991,000 after buying an additional 13,330 shares during the last quarter. Advisor Partners LLC boosted its stake in shares of Nvidia Corp. by 18.6% in the first quarter. Advisor Partners LLC now owns 7,734 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 1,213 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Nvidia Corp. during the first quarter valued at approximately $9,570,000. Institutional investors 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.
Receive News & Stock Ratings for Nvidia Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nvidia Corp. and related stocks with our FREE daily email newsletter.