Nvidia Corp. (NVDA) Upgraded by Vetr Inc. to Buy
Nvidia Corp. (NASDAQ:NVDA) was upgraded by Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $69.40 price target on the computer hardware maker’s stock. Vetr‘s target price suggests a potential upside of 4.94% from the stock’s previous close.
Several other research firms also recently commented on NVDA. Wells Fargo & Co. reissued an “underperform” rating on shares of Nvidia Corp. in a report on Friday, September 30th. Bank of America Corp. reissued a “buy” rating and issued a $80.00 target price on shares of Nvidia Corp. in a report on Monday, October 3rd. SunTrust Banks Inc. began coverage on shares of Nvidia Corp. in a report on Monday, September 19th. They issued a “neutral” rating and a $59.00 target price on the stock. Susquehanna began coverage on shares of Nvidia Corp. in a report on Tuesday, September 20th. They issued a “neutral” rating and a $66.00 target price on the stock. Finally, Brean Capital reissued a “hold” rating on shares of Nvidia Corp. in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.59.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 1.45% during midday trading on Tuesday, reaching $66.13. 9,713,476 shares of the company’s stock were exchanged. The stock has a market cap of $35.38 billion, a PE ratio of 43.45 and a beta of 1.25. The stock’s 50 day moving average is $64.02 and its 200-day moving average is $50.61. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $69.70.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.70%. Nvidia Corp.’s payout ratio is 30.26%.
In other news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $63.35, for a total transaction of $25,910.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 37,804 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $68.60, for a total transaction of $2,593,354.40. Following the sale, the chief financial officer now directly owns 444,812 shares in the company, valued at approximately $30,514,103.20. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several large investors have recently modified their holdings of NVDA. Prudential Financial Inc. boosted its stake in shares of Nvidia Corp. by 13.2% in the first quarter. Prudential Financial Inc. now owns 710,908 shares of the computer hardware maker’s stock worth $25,330,000 after buying an additional 83,000 shares during the last quarter. Columbia Partners L L C Investment Management boosted its stake in shares of Nvidia Corp. by 1.1% in the first quarter. Columbia Partners L L C Investment Management now owns 29,723 shares of the computer hardware maker’s stock worth $1,059,000 after buying an additional 309 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Nvidia Corp. during the first quarter worth approximately $9,570,000. 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 worth $276,000 after buying an additional 1,213 shares during the last quarter. Finally, 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 worth $991,000 after buying an additional 13,330 shares during the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.
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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