NVIDIA (NASDAQ:NVDA) Price Target Increased to $240.00 by Analysts at SunTrust Banks
NVIDIA (NASDAQ:NVDA) had its price target upped by SunTrust Banks from $216.00 to $240.00 in a research note published on Friday, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock. The analysts noted that the move was a valuation call.
NVDA has been the topic of several other reports. UBS Group boosted their price target on NVIDIA from $195.00 to $240.00 and gave the company a buy rating in a research note on Monday, November 11th. BMO Capital Markets reaffirmed a market perform rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, November 14th. Jefferies Financial Group upped their target price on NVIDIA from $210.00 to $250.00 and gave the stock a buy rating in a research report on Friday. ValuEngine lowered NVIDIA from a strong-buy rating to a buy rating in a research report on Monday, November 11th. Finally, Evercore ISI upped their target price on NVIDIA from $185.00 to $225.00 and gave the stock an outperform rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $216.69.
Shares of NVIDIA stock traded down $4.08 during midday trading on Friday, reaching $208.20. The company had a trading volume of 436,344 shares, compared to its average volume of 8,276,448. The stock has a fifty day moving average price of $195.53 and a 200 day moving average price of $170.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.42 and a quick ratio of 7.71. The firm has a market cap of $124.96 billion, a PE ratio of 34.15, a P/E/G ratio of 5.25 and a beta of 2.06. NVIDIA has a fifty-two week low of $124.46 and a fifty-two week high of $213.35.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.31%. NVIDIA’s payout ratio is currently 10.54%.
In other NVIDIA news, Director Michael G. Mccaffery sold 2,361 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $166.00, for a total value of $391,926.00. Following the sale, the director now owns 16,431 shares of the company’s stock, valued at approximately $2,727,546. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Persis Drell sold 165 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $180.45, for a total value of $29,774.25. Following the transaction, the director now owns 18,019 shares in the company, valued at $3,251,528.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,883 shares of company stock worth $11,206,817. Insiders own 4.64% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Marquette Asset Management LLC increased its position in shares of NVIDIA by 416.7% during the 3rd quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Pacific Center for Financial Services grew its position in NVIDIA by 143.1% during the 2nd quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Investors Research Corp grew its position in NVIDIA by 313.0% during the 3rd quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 144 shares during the last quarter. Field & Main Bank bought a new position in NVIDIA during the 2nd quarter worth approximately $33,000. Finally, American National Bank bought a new position in NVIDIA during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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