NVIDIA (NVDA) Price Target Cut to $200.00
A number of other research firms have also recently commented on NVDA. BidaskClub upgraded NVIDIA from a buy rating to a strong-buy rating in a research report on Saturday, August 25th. Benchmark restated a buy rating and set a $310.00 target price (up from $280.00) on shares of NVIDIA in a research report on Thursday, September 20th. Needham & Company LLC raised their target price on NVIDIA from $325.00 to $350.00 and gave the company a buy rating in a research report on Friday, September 14th. Tigress Financial restated a buy rating on shares of NVIDIA in a research report on Friday, October 5th. Finally, Evercore ISI raised their target price on NVIDIA from $300.00 to $400.00 and gave the company an outperform rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $261.28.
Shares of NVDA opened at $164.43 on Friday. The stock has a market cap of $100.30 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.16 and a beta of 2.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.20 and a current ratio of 7.08. NVIDIA has a fifty-two week low of $161.61 and a fifty-two week high of $292.76.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.39%. This is a boost from NVIDIA’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 29th. NVIDIA’s payout ratio is presently 12.85%.
In related news, CFO Colette Kress sold 11,576 shares of NVIDIA stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $266.31, for a total value of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at approximately $79,222,431.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 90,831 shares of NVIDIA stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the sale, the executive vice president now owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Holderness Investments Co. lifted its stake in NVIDIA by 3.2% in the 2nd quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock worth $1,535,000 after purchasing an additional 200 shares in the last quarter. Grimes & Company Inc. lifted its stake in NVIDIA by 9.0% in the 2nd quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock worth $588,000 after purchasing an additional 205 shares in the last quarter. Charter Trust Co. lifted its stake in NVIDIA by 4.9% in the 2nd quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock worth $1,059,000 after purchasing an additional 207 shares in the last quarter. LVW Advisors LLC lifted its stake in NVIDIA by 11.7% in the 2nd quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock worth $476,000 after purchasing an additional 210 shares in the last quarter. Finally, Security National Bank lifted its stake in NVIDIA by 0.9% in the 3rd quarter. Security National Bank now owns 25,118 shares of the computer hardware maker’s stock worth $7,059,000 after purchasing an additional 212 shares in the last quarter. 66.12% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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