NVIDIA (NASDAQ:NVDA) Price Target Raised to $300.00 at Argus
NVIDIA (NASDAQ:NVDA) had its price objective lifted by Argus from $240.00 to $300.00 in a report released on Monday morning, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock.
A number of other equities research analysts also recently commented on the company. BidaskClub upgraded NVIDIA from a buy rating to a strong-buy rating in a research report on Friday. Wells Fargo & Co reiterated an outperform rating on shares of NVIDIA in a research report on Monday, December 23rd. Citigroup reiterated a buy rating and set a $245.00 price objective on shares of NVIDIA in a research report on Friday. Cascend Securities increased their price objective on NVIDIA from $190.00 to $220.00 and gave the company a buy rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on NVIDIA from $200.00 to $237.00 and gave the company an overweight rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $227.61.
Shares of NASDAQ NVDA opened at $248.10 on Monday. The company has a current ratio of 8.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $228.71 and a 200-day simple moving average of $191.10. The company has a market cap of $152.28 billion, a PE ratio of 40.87, a P/E/G ratio of 6.05 and a beta of 2.04. NVIDIA has a 12-month low of $131.00 and a 12-month high of $252.99.
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Wednesday, November 27th. NVIDIA’s dividend payout ratio (DPR) is presently 10.54%.
In other news, CFO Colette Kress sold 2,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.43, for a total value of $470,860.00. Following the transaction, the chief financial officer now directly owns 169,989 shares of the company’s stock, valued at $40,020,510.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A Brooke Seawell sold 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $212.75, for a total transaction of $4,255,000.00. Following the completion of the transaction, the director now directly owns 22,221 shares in the company, valued at $4,727,517.75. The disclosure for this sale can be found here. Insiders sold 45,785 shares of company stock worth $9,965,644 over the last ninety days. 4.64% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Smith Asset Management Group LP acquired a new position in shares of NVIDIA in the second quarter worth $9,640,000. Bernardo Wealth Planning LLC boosted its holdings in NVIDIA by 10.9% in the second quarter. Bernardo Wealth Planning LLC now owns 2,589 shares of the computer hardware maker’s stock worth $425,000 after purchasing an additional 255 shares in the last quarter. ETRADE Capital Management LLC boosted its holdings in NVIDIA by 17.5% in the second quarter. ETRADE Capital Management LLC now owns 6,144 shares of the computer hardware maker’s stock worth $1,009,000 after purchasing an additional 913 shares in the last quarter. US Bancorp DE boosted its holdings in NVIDIA by 18.7% in the second quarter. US Bancorp DE now owns 60,849 shares of the computer hardware maker’s stock worth $9,995,000 after purchasing an additional 9,592 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in NVIDIA by 120.4% in the second quarter. Lido Advisors LLC now owns 6,260 shares of the computer hardware maker’s stock worth $1,028,000 after purchasing an additional 3,420 shares in the last quarter. 65.02% of the stock is currently owned by institutional investors and hedge funds.
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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