NVIDIA (NASDAQ:NVDA) Rating Reiterated by Bank of America
NVDA has been the topic of several other reports. Barclays lowered their price target on shares of NVIDIA from $180.00 to $170.00 and set an overweight rating on the stock in a report on Friday, August 16th. Morgan Stanley reaffirmed an equal weight rating and issued a $180.00 price target (up from $170.00) on shares of NVIDIA in a report on Friday, August 16th. Sanford C. Bernstein set a $150.00 price target on shares of NVIDIA and gave the company a hold rating in a report on Wednesday, June 26th. Piper Jaffray Companies set a $200.00 price target on shares of NVIDIA and gave the company a buy rating in a report on Friday, August 16th. Finally, Cascend Securities raised shares of NVIDIA from a hold rating to a buy rating and set a $190.00 price target on the stock in a report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $190.40.
NASDAQ NVDA opened at $162.44 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The stock’s fifty day moving average price is $164.03 and its 200 day moving average price is $163.88. NVIDIA has a 1 year low of $124.46 and a 1 year high of $292.76. The company has a market cap of $104.28 billion, a price-to-earnings ratio of 44.71, a PEG ratio of 4.39 and a beta of 2.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, August 28th. NVIDIA’s payout ratio is currently 10.54%.
In related news, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $167.36, for a total transaction of $418,400.00. Following the completion of the transaction, the director now owns 18,184 shares in the company, valued at approximately $3,043,274.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 2,236 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the transaction, the chief financial officer now owns 239,710 shares of the company’s stock, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,236 shares of company stock worth $15,712,126. Corporate insiders own 4.64% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina raised its holdings in NVIDIA by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 365,321 shares of the computer hardware maker’s stock valued at $59,997,000 after acquiring an additional 1,480 shares during the last quarter. Natixis acquired a new stake in NVIDIA in the 2nd quarter valued at about $46,561,000. Barings LLC raised its holdings in NVIDIA by 192.9% in the 2nd quarter. Barings LLC now owns 11,315 shares of the computer hardware maker’s stock valued at $1,858,000 after acquiring an additional 7,452 shares during the last quarter. Hellman Jordan Management Co. Inc. MA raised its holdings in NVIDIA by 64.1% in the 2nd quarter. Hellman Jordan Management Co. Inc. MA now owns 5,173 shares of the computer hardware maker’s stock valued at $850,000 after acquiring an additional 2,021 shares during the last quarter. Finally, WealthPLAN Partners LLC raised its holdings in NVIDIA by 10.8% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,901 shares of the computer hardware maker’s stock valued at $297,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.
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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