Nvidia Corp. (NVDA) Given a $100.00 Price Target by Citigroup Inc. Analysts
Nvidia Corp. (NASDAQ:NVDA) has been given a $100.00 price objective by equities research analysts at Citigroup Inc. in a report issued on Friday. The firm presently has a a “buy” rating on the computer hardware maker’s stock. Citigroup Inc.’s target price would suggest a potential upside of 19.56% from the company’s previous close.
A number of other equities research analysts have also weighed in on the company. BMO Capital Markets reiterated a “hold” rating and issued a $75.00 price objective (up from $59.00) on shares of Nvidia Corp. in a research report on Friday. Global Equities Research restated an “overweight” rating and issued a $85.00 target price on shares of Nvidia Corp. in a research note on Friday. Nomura raised their target price on Nvidia Corp. from $62.50 to $80.00 and gave the company a “buy” rating in a research note on Friday. Pacific Crest restated an “equal weight” rating on shares of Nvidia Corp. in a research note on Friday. Finally, RBC Capital Markets raised their target price on Nvidia Corp. to $95.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Nvidia Corp. has an average rating of “Buy” and an average price target of $71.58.
Nvidia Corp. (NASDAQ:NVDA) opened at 83.64 on Friday. The stock’s 50 day moving average price is $69.17 and its 200-day moving average price is $56.48. The firm has a market capitalization of $45.00 billion, a price-to-earnings ratio of 42.74 and a beta of 1.17. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $88.77.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.37. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The business’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Equities analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
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 paid a dividend of $0.14 per share. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.67%. Nvidia Corp.’s dividend payout ratio is currently 24.08%.
In related news, Director A Brooke Seawell sold 35,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $87.74, for a total value of $3,070,900.00. Following the transaction, the director now owns 41,213 shares of the company’s stock, valued at $3,616,028.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jen Hsun Huang sold 41,666 shares of the stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $66.42, for a total value of $2,767,455.72. Following the completion of the transaction, the insider now directly owns 1,751,872 shares in the company, valued at approximately $116,359,338.24. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. West Oak Capital LLC boosted its position in shares of Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock valued at $107,000 after buying an additional 1,010 shares during the period. Brick & Kyle Associates boosted 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 period. Cornerstone Advisors Inc. boosted its position in shares of Nvidia Corp. by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock valued at $122,000 after buying an additional 612 shares during the period. Stephens Inc. AR boosted its position in shares of Nvidia Corp. by 10.2% in the third quarter. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker’s stock valued at $132,000 after buying an additional 179 shares during the period. Finally, Advisors Preferred LLC boosted its position in shares of Nvidia Corp. by 791.9% in the third quarter. Advisors Preferred LLC now owns 2,310 shares of the computer hardware maker’s stock valued at $158,000 after buying an additional 2,051 shares during the period. 86.45% of the stock is currently owned by institutional investors.
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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