Nvidia Corp. (NVDA) PT Set at $100.00 by Citigroup Inc.
Nvidia Corp. (NASDAQ:NVDA) received a $100.00 price target from equities researchers at Citigroup Inc. in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Citigroup Inc.’s target price suggests a potential upside of 6.20% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. RBC Capital Markets increased their price target on Nvidia Corp. to $95.00 in a research note on Friday, November 11th. B. Riley reiterated a “buy” rating and set a $64.50 price objective on shares of Nvidia Corp. in a research report on Wednesday, August 10th. Roth Capital set a $68.00 price objective on Nvidia Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Jefferies Group increased their price objective on Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Mizuho increased their price objective on Nvidia Corp. to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Nvidia Corp. presently has an average rating of “Buy” and a consensus target price of $72.15.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 94.16 on Thursday. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $95.25. The stock has a 50 day moving average of $74.93 and a 200 day moving average of $59.58. The firm has a market cap of $50.66 billion, a P/E ratio of 48.11 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.37. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 53.6% on a year-over-year basis. Analysts anticipate that Nvidia Corp. will post $2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be given a $0.14 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.56 annualized dividend and a yield of 0.59%. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s payout ratio is currently 29.32%.
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In other news, insider Jen Hsun Huang sold 43,727 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total transaction of $2,746,492.87. Following the transaction, the insider now owns 1,827,279 shares of the company’s stock, valued at approximately $114,771,393.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 37,804 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $68.60, for a total value of $2,593,354.40. Following the transaction, 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. 5.82% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 worth $107,000 after buying an additional 1,010 shares in the last quarter. 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 worth $118,000 after buying an additional 502 shares in the last quarter. 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 worth $122,000 after buying an additional 612 shares in the last quarter. 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 worth $132,000 after buying an additional 179 shares in the last quarter. 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 worth $158,000 after buying an additional 2,051 shares in the last quarter. 86.85% of the stock is currently owned by hedge funds and other 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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