J P Morgan Chase & Co Reaffirms Hold Rating for NVIDIA Corporation (NVDA)
J P Morgan Chase & Co restated their hold rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research note published on Friday. They currently have a $207.00 price target on the computer hardware maker’s stock.
A number of other equities analysts have also commented on the company. Citigroup Inc. reaffirmed a buy rating and issued a $240.00 price objective on shares of NVIDIA Corporation in a research note on Friday. Deutsche Bank AG lifted their price objective on NVIDIA Corporation from $145.00 to $190.00 and gave the stock a hold rating in a research note on Wednesday, November 8th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of NVIDIA Corporation in a research note on Sunday, November 5th. Morgan Stanley lifted their price objective on NVIDIA Corporation from $168.00 to $210.00 and gave the stock an equal weight rating in a research note on Monday, November 6th. Finally, B. Riley lifted their target price on NVIDIA Corporation from $200.00 to $250.00 and gave the stock a buy rating in a report on Monday, November 6th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $185.41.
NVIDIA Corporation (NASDAQ:NVDA) traded up $10.82 during trading on Friday, hitting $216.14. The company had a trading volume of 31,331,300 shares, compared to its average volume of 17,773,291. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The firm has a market capitalization of $127,580.00, a price-to-earnings ratio of 53.24, a P/E/G ratio of 5.34 and a beta of 1.23. 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 company 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 firm’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. analysts predict that NVIDIA Corporation will post 3.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a yield of 0.28%. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s dividend payout ratio is 14.00%.
In other NVIDIA Corporation news, insider Michael Byron sold 409 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the transaction, the insider now owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 22,808 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.31, for a total value of $4,226,550.48. The disclosure for this sale can be found here. In the last three months, insiders sold 436,503 shares of company stock worth $78,796,295. Insiders own 5.17% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NVDA. Fiduciary Trust Co. purchased a new position in NVIDIA Corporation in the first quarter worth $435,000. Metropolitan Life Insurance Co. NY boosted its position 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 purchasing an additional 19,245 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in NVIDIA Corporation in the first quarter worth $1,454,000. Caxton Associates LP purchased a new position in NVIDIA Corporation in the first quarter worth $2,778,000. Finally, Flagship Harbor Advisors LLC boosted its position 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 purchasing an additional 4,442 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.
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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