Oppenheimer restated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Monday morning, AnalystRatings.com reports. They currently have a $550.00 price objective on the computer hardware maker’s stock.
Several other brokerages have also recently issued reports on NVDA. BidaskClub cut NVIDIA from a strong-buy rating to a buy rating in a research report on Wednesday, September 9th. Nomura Instinet boosted their price target on NVIDIA from $230.00 to $260.00 and gave the company a reduce rating in a research report on Friday, May 22nd. BofA Securities boosted their price target on NVIDIA from $600.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, September 2nd. Goldman Sachs Group restated a buy rating and issued a $585.00 price target (up previously from $528.00) on shares of NVIDIA in a research report on Wednesday, September 2nd. Finally, Cascend Securities lifted their price objective on NVIDIA from $450.00 to $540.00 and gave the company a buy rating in a report on Wednesday, August 12th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-one have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $512.97.
NVDA opened at $500.58 on Monday. The business’s 50-day simple moving average is $480.89 and its 200-day simple moving average is $359.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.51 and a current ratio of 6.09. NVIDIA has a one year low of $169.32 and a one year high of $589.07. The stock has a market capitalization of $308.86 billion, a P/E ratio of 92.02, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The business’s revenue was up 50.1% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA will post 6.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.13%. NVIDIA’s dividend payout ratio (DPR) is 13.94%.
In related news, EVP Ajay K. Puri sold 12,692 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $405.60, for a total transaction of $5,147,875.20. Following the completion of the sale, the executive vice president now directly owns 61,983 shares of the company’s stock, valued at approximately $25,140,304.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 12,849 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $372.86, for a total transaction of $4,790,878.14. Following the sale, the executive vice president now directly owns 65,037 shares of the company’s stock, valued at $24,249,695.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 348,373 shares of company stock valued at $152,440,424. 4.47% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in NVIDIA by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 49,018,971 shares of the computer hardware maker’s stock valued at $18,622,797,000 after buying an additional 479,795 shares during the last quarter. BlackRock Inc. boosted its stake in shares of NVIDIA by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,602,920 shares of the computer hardware maker’s stock valued at $16,565,183,000 after buying an additional 849,675 shares during the period. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 9,400,154 shares of the computer hardware maker’s stock valued at $2,473,368,000 after buying an additional 743,155 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,571,883 shares of the computer hardware maker’s stock valued at $2,496,723,000 after buying an additional 364,122 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of NVIDIA by 6.8% during the 1st quarter. Nuveen Asset Management LLC now owns 5,740,202 shares of the computer hardware maker’s stock valued at $1,513,118,000 after buying an additional 364,732 shares during the period. 68.11% of the stock is owned by institutional investors.
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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