Bank of America Corporation Raises NVIDIA Corporation (NVDA) Price Target to $251.00
NVIDIA Corporation (NASDAQ:NVDA) had its target price upped by Bank of America Corporation from $210.00 to $251.00 in a research note published on Friday morning. The firm currently has a buy rating on the computer hardware maker’s stock.
Several other equities research analysts also recently weighed in on NVDA. SunTrust Banks, Inc. raised their price objective on NVIDIA Corporation to $253.00 and gave the company a buy rating in a report on Friday. Needham & Company LLC reissued a buy rating and issued a $250.00 price objective on shares of NVIDIA Corporation in a research report on Friday. Nomura raised NVIDIA Corporation from a reduce rating to a neutral rating and lifted their price objective for the stock from $110.00 to $190.00 in a research report on Friday. Rosenblatt Securities boosted their target price on NVIDIA Corporation from $180.00 to $250.00 and gave the company a buy rating in a research report on Friday. Finally, Jefferies Group LLC lifted their price target on NVIDIA Corporation from $230.00 to $240.00 and gave the company a buy rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. NVIDIA Corporation has an average rating of Buy and an average target price of $185.41.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $10.82 during midday trading on Friday, hitting $216.14. The stock had a trading volume of 31,331,300 shares, compared to its average volume of 13,613,651. The company has a market capitalization of $129,684.00, a price-to-earnings ratio of 53.24, a P/E/G ratio of 5.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. NVIDIA Corporation has a one year low of $78.50 and a one year high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The company’s revenue was up 31.5% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. research analysts predict that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio is currently 13.90%.
In other news, insider Jen Hsun Huang sold 110,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 22,808 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 436,503 shares of company stock valued at $78,796,295. 5.17% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of NVDA. Fiduciary Trust Co. bought a new position in NVIDIA Corporation in the first quarter worth about $435,000. Metropolitan Life Insurance Co. NY raised its stake in NVIDIA Corporation by 6.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock worth $33,573,000 after buying an additional 19,245 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in NVIDIA Corporation in the first quarter worth about $1,454,000. Caxton Associates LP bought a new position in NVIDIA Corporation in the first quarter worth about $2,778,000. Finally, Flagship Harbor Advisors LLC raised its stake in NVIDIA Corporation by 138.6% in the first quarter. Flagship Harbor Advisors LLC now owns 7,646 shares of the computer hardware maker’s stock worth $765,000 after buying an additional 4,442 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.
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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