Nvidia Corp. (NVDA) Announces Quarterly Earnings Results
Nvidia Corp. (NASDAQ:NVDA) announced its quarterly earnings data on Thursday. The computer hardware maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.57 by $0.37. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $0.44 EPS. The business’s quarterly revenue was up 53.6% compared to the same quarter last year.
Nvidia Corp. (NASDAQ:NVDA) opened at 67.77 on Friday. The stock’s 50 day moving average is $68.01 and its 200-day moving average is $55.50. The stock has a market capitalization of $36.26 billion, a price-to-earnings ratio of 44.53 and a beta of 1.17. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $72.95.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be given a dividend of $0.14 per share. This is a positive change from Nvidia Corp.’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. Nvidia Corp.’s dividend payout ratio (DPR) is 30.26%.
Several analysts have commented on NVDA shares. Bank of America Corp. restated a “buy” rating and set a $80.00 price objective on shares of Nvidia Corp. in a research note on Monday, October 3rd. Nomura restated a “buy” rating and set a $62.50 price objective on shares of Nvidia Corp. in a research note on Monday, September 12th. RBC Capital Markets restated an “outperform” rating and set a $72.00 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 31st. Vetr upgraded shares of Nvidia Corp. from a “sell” rating to a “hold” rating and set a $69.05 price objective for the company in a research note on Wednesday, November 2nd. Finally, Wells Fargo & Co. restated an “underperform” rating on shares of Nvidia Corp. in a research note on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $62.16.
In other news, 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 transaction of $3,055,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Debora Shoquist sold 35,476 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $63.06, for a total value of $2,237,116.56. Following the sale, the executive vice president now owns 352,188 shares of the company’s stock, valued at approximately $22,208,975.28. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several hedge funds have recently modified their holdings of NVDA. Washington Trust Bank raised its position in Nvidia Corp. by 0.8% in the third quarter. Washington Trust Bank now owns 6,753 shares of the computer hardware maker’s stock valued at $463,000 after buying an additional 54 shares during the period. IFC Holdings Incorporated FL raised its position in Nvidia Corp. by 0.9% in the third quarter. IFC Holdings Incorporated FL now owns 8,719 shares of the computer hardware maker’s stock valued at $596,000 after buying an additional 80 shares during the period. Atlantic Trust Group LLC raised its position in Nvidia Corp. by 0.3% in the second quarter. Atlantic Trust Group LLC now owns 27,441 shares of the computer hardware maker’s stock valued at $1,289,000 after buying an additional 81 shares during the period. Koshinski Asset Management Inc. raised its position in Nvidia Corp. by 2.4% in the third quarter. Koshinski Asset Management Inc. now owns 5,234 shares of the computer hardware maker’s stock valued at $359,000 after buying an additional 122 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in Nvidia Corp. by 0.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 13,743 shares of the computer hardware maker’s stock valued at $942,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 86.24% of the company’s stock.
Nvidia Corp. Company Profile
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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