Citigroup Inc. Reaffirms Buy Rating for NVIDIA Corporation (NVDA)
Citigroup Inc. reaffirmed their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a report issued on Friday morning. They currently have a $240.00 price objective on the computer hardware maker’s stock.
NVDA has been the subject of a number of other reports. Bank of America Corporation set a $210.00 price target on shares of NVIDIA Corporation and gave the company a buy rating in a research report on Thursday, October 12th. Canaccord Genuity reissued a buy rating and issued a $190.00 price target on shares of NVIDIA Corporation in a research report on Friday, September 8th. BidaskClub raised shares of NVIDIA Corporation from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) boosted their price target on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the company a buy rating in a research report on Wednesday, October 11th. Finally, Evercore ISI boosted their price target on shares of NVIDIA Corporation from $180.00 to $250.00 and gave the company an outperform rating in a research report on Friday, September 15th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $185.41.
NVIDIA Corporation (NVDA) traded up $10.82 during trading on Friday, hitting $216.14. 31,331,300 shares of the stock traded hands, compared to its average volume of 17,773,291. The stock has a market cap of $127,580.00, a PE ratio of 53.24, a P/E/G ratio of 5.34 and a beta of 1.23. NVIDIA Corporation has a 1-year low of $78.50 and a 1-year high of $218.67. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.39. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. sell-side analysts expect that NVIDIA Corporation will post 3.61 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a dividend of $0.15 per share. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. NVIDIA Corporation’s dividend payout ratio is presently 14.00%.
In related news, CFO Colette Kress sold 22,808 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total transaction of $4,226,550.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the transaction, the director now directly owns 16,507 shares in the company, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. Insiders have sold 436,503 shares of company stock worth $78,796,295 in the last three months. Insiders own 5.17% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Cibc World Markets Corp raised its stake in NVIDIA Corporation by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after purchasing an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co raised its stake in NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after purchasing an additional 1,000 shares during the period. RB Capital Management LLC purchased a new position in NVIDIA Corporation during the second quarter worth approximately $272,000. Oppenheimer Asset Management Inc. raised its stake in NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. purchased a new position in NVIDIA Corporation during the second quarter worth approximately $258,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Corporation 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.
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