NVIDIA Corporation (NVDA) Shares Gap Down to $0.00
Shares of NVIDIA Corporation (NASDAQ:NVDA) gapped down before the market opened on Thursday . The stock had previously closed at ($181.64), but opened at $0.00. NVIDIA Corporation shares last traded at $0.00, with a volume of 26853300 shares changing hands.
NVDA has been the subject of several analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $171.00 price objective (up previously from $165.00) on shares of NVIDIA Corporation in a report on Wednesday, June 14th. Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price objective for the company. in a report on Thursday, August 31st. Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 target price for the company in a research note on Tuesday, July 11th. Credit Suisse Group restated an “outperform” rating on shares of NVIDIA Corporation in a research note on Thursday, August 31st. Finally, BidaskClub upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $151.57.
The firm has a 50-day moving average of $167.68 and a 200 day moving average of $138.76. The company has a market cap of $105.90 billion, a price-to-earnings ratio of 50.76 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts predict that NVIDIA Corporation will post $3.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.33%. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
In related news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $185.65, for a total transaction of $18,565,000.00. Following the sale, the director now owns 30,762 shares in the company, valued at $5,710,965.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $150.84, for a total transaction of $7,542,000.00. Following the sale, the director now owns 30,762 shares in the company, valued at approximately $4,640,140.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 536,940 shares of company stock worth $91,728,080. 5.17% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc World Markets Corp boosted its position in NVIDIA Corporation by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after acquiring an additional 13,802 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after purchasing an additional 1,000 shares during the period. RB Capital Management LLC purchased a new position in NVIDIA Corporation during the second quarter worth approximately $272,000. Oppenheimer Asset Management Inc. raised its stake in NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. purchased a new position in NVIDIA Corporation during the second quarter worth approximately $258,000. Hedge funds and other institutional investors own 65.79% of the company’s stock.
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About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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