Loop Capital Boosts NVIDIA Corporation (NVDA) Price Target to $205.00
NVIDIA Corporation (NASDAQ:NVDA) had its price target raised by Loop Capital from $181.00 to $205.00 in a report released on Thursday, Marketbeat Ratings reports. Loop Capital currently has a buy rating on the computer hardware maker’s stock.
NVDA has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $171.00 target price (up previously from $165.00) on shares of NVIDIA Corporation in a research note on Wednesday, June 14th. Vetr lowered NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 target price on the stock. in a research note on Thursday, August 31st. Zacks Investment Research upgraded NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 target price on the stock in a research note on Tuesday, July 11th. Credit Suisse Group reiterated an outperform rating on shares of NVIDIA Corporation in a research note on Thursday, August 31st. Finally, BidaskClub raised NVIDIA Corporation from a buy rating to a strong-buy rating in a research report on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $155.31.
Shares of NVIDIA Corporation (NVDA) traded up 0.29% during mid-day trading on Thursday, hitting $181.30. The stock had a trading volume of 7,969,957 shares. The stock has a 50 day moving average of $172.25 and a 200-day moving average of $145.37. NVIDIA Corporation has a 52 week low of $63.70 and a 52 week high of $191.20. The stock has a market capitalization of $108.78 billion, a P/E ratio of 52.14 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post $3.64 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $150.29, for a total value of $15,029,000.00. Following the completion of the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,623,220.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark L. Perry sold 16,281 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $162.24, for a total value of $2,641,429.44. Following the completion of the sale, the director now owns 48,069 shares of the company’s stock, valued at $7,798,714.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 496,478 shares of company stock valued at $85,901,012. 5.82% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Cibc World Markets Corp grew its stake in shares of NVIDIA Corporation by 12.1% in the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after buying an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in shares of NVIDIA Corporation by 9.9% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after buying an additional 1,000 shares during the period. RB Capital Management LLC acquired a new stake in shares of NVIDIA Corporation in the 2nd quarter valued at about $272,000. Oppenheimer Asset Management Inc. grew its stake in shares of NVIDIA Corporation by 17.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after buying an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. acquired a new stake in shares of NVIDIA Corporation in the 2nd quarter valued at about $258,000. Institutional investors own 65.79% of the company’s stock.
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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