NVIDIA (NVDA) Downgraded to Buy at Vetr
Vetr lowered shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a buy rating in a research report released on Monday. They currently have $220.79 price target on the computer hardware maker’s stock.
NVDA has been the topic of a number of other research reports. Citigroup reaffirmed a buy rating and issued a $210.00 price objective (up previously from $185.00) on shares of NVIDIA in a report on Friday, September 29th. Bank of America set a $210.00 price objective on NVIDIA and gave the company a buy rating in a report on Thursday, October 12th. Loop Capital reaffirmed a buy rating and issued a $181.00 price objective on shares of NVIDIA in a report on Tuesday, August 22nd. Needham & Company LLC lifted their price objective on NVIDIA from $200.00 to $250.00 and gave the company a buy rating in a report on Friday, October 13th. Finally, Stifel Nicolaus lifted their price objective on NVIDIA from $110.00 to $184.00 and gave the company a hold rating in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $187.44.
Shares of NVIDIA (NVDA) opened at $197.90 on Monday. NVIDIA has a twelve month low of $95.17 and a twelve month high of $218.67. The firm has a market capitalization of $116,085.36, a P/E ratio of 47.18, a price-to-earnings-growth ratio of 4.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a dividend of $0.15 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Wednesday, November 22nd. NVIDIA’s payout ratio is currently 14.89%.
In related news, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $214.10, for a total transaction of $220,308.90. Following the completion of the transaction, the director now directly owns 1,029 shares in the company, valued at approximately $220,308.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 22,808 shares of NVIDIA stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.31, for a total value of $4,226,550.48. The disclosure for this sale can be found here. Insiders have sold a total of 265,346 shares of company stock valued at $49,978,812 over the last 90 days. Insiders own 5.17% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NVDA. Welch Investments LLC purchased a new stake in NVIDIA in the 3rd quarter worth approximately $104,000. Evercore Wealth Management LLC grew its stake in NVIDIA by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. Thompson Davis & CO. Inc. grew its stake in NVIDIA by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the period. Hanson McClain Inc. grew its stake in NVIDIA by 12.7% in the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after acquiring an additional 99 shares during the period. Finally, Edge Advisors LLC grew its stake in NVIDIA by 98.8% in the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after acquiring an additional 415 shares during the period. 63.41% of the stock is owned by hedge funds and other institutional investors.
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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.
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