NVIDIA Co. (NVDA) Upgraded at Vetr Inc.
NVIDIA Co. (NASDAQ:NVDA) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $143.94 target price on the computer hardware maker’s stock. Vetr‘s price objective points to a potential upside of 4.11% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on NVDA. Royal Bank of Canada upped their price target on NVIDIA from $115.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. CLSA started coverage on NVIDIA in a report on Friday, February 3rd. They issued an “underperform” rating and a $115.00 price target on the stock. They noted that the move was a valuation call. Roth Capital restated a “neutral” rating and issued a $95.00 price target (down previously from $120.00) on shares of NVIDIA in a report on Monday, February 6th. BMO Capital Markets upped their price target on NVIDIA from $75.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, February 6th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA in a report on Tuesday, February 7th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $112.83.
Shares of NVIDIA (NASDAQ:NVDA) traded down 0.22% during mid-day trading on Thursday, reaching $138.26. The company’s stock had a trading volume of 15,205,701 shares. The company has a market capitalization of $81.85 billion, a price-to-earnings ratio of 46.41 and a beta of 1.31. NVIDIA has a 1-year low of $44.57 and a 1-year high of $141.07. The company’s 50 day moving average price is $112.48 and its 200-day moving average price is $104.39.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.16. NVIDIA had a return on equity of 34.13% and a net margin of 23.82%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. Analysts predict that NVIDIA will post $3.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, May 19th. NVIDIA’s payout ratio is 21.96%.
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In other NVIDIA news, CFO Colette Kress sold 53,458 shares of NVIDIA stock in a transaction on Friday, March 17th. The shares were sold at an average price of $105.32, for a total transaction of $5,630,196.56. Following the completion of the sale, the chief financial officer now owns 391,354 shares of the company’s stock, valued at approximately $41,217,403.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jen Hsun Huang sold 41,670 shares of NVIDIA stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $98.30, for a total transaction of $4,096,161.00. Following the sale, the insider now directly owns 1,811,456 shares of the company’s stock, valued at approximately $178,066,124.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,178 shares of company stock worth $49,631,570. Corporate insiders own 5.82% of the company’s stock.
Large investors have recently modified their holdings of the stock. Reynolds Capital Management bought a new stake in shares of NVIDIA during the fourth quarter worth about $353,000. Centre Asset Management raised its stake in shares of NVIDIA by 41.2% in the fourth quarter. Centre Asset Management now owns 381,658 shares of the computer hardware maker’s stock worth $12,579,000 after buying an additional 111,300 shares during the period. Mackay Shields raised its stake in shares of NVIDIA by 0.5% in the fourth quarter. Mackay Shields now owns 14,280,000 shares of the computer hardware maker’s stock worth $23,857,000 after buying an additional 72,000 shares during the period. Baker Avenue Asset Management raised its stake in shares of NVIDIA by 220.6% in the third quarter. Baker Avenue Asset Management now owns 54,600 shares of the computer hardware maker’s stock worth $1,346,000 after buying an additional 37,570 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft raised its stake in shares of NVIDIA by 114.7% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 519,105 shares of the computer hardware maker’s stock worth $12,744,000 after buying an additional 277,379 shares during the period. 85.00% of the stock is owned by institutional investors.
NVIDIA Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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