Nvidia Corp. (NVDA) Rating Reiterated by Raymond James Financial Inc.
Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “strong-buy” rating reissued by equities researchers at Raymond James Financial Inc. in a research note issued on Friday. They presently have a $90.00 price objective on the computer hardware maker’s stock, up from their prior price objective of $75.00. Raymond James Financial Inc.’s target price suggests a potential upside of 7.60% from the company’s previous close.
Several other analysts have also recently weighed in on NVDA. RBC Capital Markets raised shares of Nvidia Corp. from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $47.00 to $72.00 in a research note on Friday, August 12th. Global Equities Research reissued an “overweight” rating and issued a $85.00 price objective on shares of Nvidia Corp. in a research note on Friday. B. Riley reissued a “buy” rating and issued a $64.50 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 10th. Vetr cut shares of Nvidia Corp. from a “sell” rating to a “strong sell” rating and set a $49.47 price objective on the stock. in a research note on Monday, July 25th. Finally, Zacks Investment Research cut shares of Nvidia Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Nvidia Corp. currently has a consensus rating of “Buy” and a consensus price target of $71.58.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 83.64 on Friday. The firm has a 50 day moving average price of $69.17 and a 200 day moving average price of $56.48. The firm has a market cap of $45.00 billion, a P/E ratio of 42.74 and a beta of 1.17. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $88.77.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.37. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. Analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, November 23rd. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s dividend payout ratio (DPR) is presently 24.08%.
In related news, CFO Colette Kress sold 38,039 shares of Nvidia Corp. stock in a transaction on Monday, August 29th. The shares were sold at an average price of $62.18, for a total value of $2,365,265.02. Following the transaction, the chief financial officer now owns 512,374 shares in the company, valued at approximately $31,859,415.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 35,000 shares of Nvidia Corp. stock in a transaction on Monday, November 14th. The stock was sold at an average price of $87.74, for a total transaction of $3,070,900.00. Following the completion of the transaction, the director now owns 41,213 shares in the company, valued at approximately $3,616,028.62. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Nvidia Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 47,688,150 shares of the computer hardware maker’s stock worth $2,241,821,000 after buying an additional 601,606 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nvidia Corp. by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,986,585 shares of the computer hardware maker’s stock worth $798,539,000 after buying an additional 152,220 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Nvidia Corp. by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 13,714,909 shares of the computer hardware maker’s stock worth $939,746,000 after buying an additional 414,290 shares during the period. Jennison Associates LLC raised its stake in shares of Nvidia Corp. by 36.6% in the third quarter. Jennison Associates LLC now owns 12,844,514 shares of the computer hardware maker’s stock worth $880,106,000 after buying an additional 3,441,948 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of Nvidia Corp. by 3.1% in the second quarter. Baillie Gifford & Co. now owns 5,301,449 shares of the computer hardware maker’s stock worth $249,221,000 after buying an additional 160,043 shares during the period. Institutional investors own 86.45% 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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