Rosenblatt Securities Increases NVIDIA (NASDAQ:NVDA) Price Target to $500.00
NVIDIA (NASDAQ:NVDA) had its price objective hoisted by Rosenblatt Securities from $400.00 to $500.00 in a report published on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the computer hardware maker’s stock.
A number of other research firms have also issued reports on NVDA. Credit Suisse Group reissued a buy rating and issued a $425.00 price target on shares of NVIDIA in a research report on Wednesday, June 24th. Cowen lifted their target price on shares of NVIDIA from $325.00 to $410.00 and gave the company an outperform rating in a research note on Friday, May 22nd. UBS Group upped their price target on shares of NVIDIA from $330.00 to $400.00 and gave the stock a buy rating in a research note on Friday, May 22nd. Nomura Instinet lifted their price objective on NVIDIA from $230.00 to $260.00 and gave the company a reduce rating in a research report on Friday, May 22nd. Finally, Susquehanna Bancshares boosted their target price on NVIDIA from $420.00 to $450.00 and gave the company a positive rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA has a consensus rating of Buy and an average target price of $363.24.
NASDAQ NVDA opened at $402.09 on Friday. The firm’s 50 day moving average price is $370.68 and its two-hundred day moving average price is $292.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.70 and a current ratio of 10.29. NVIDIA has a twelve month low of $147.39 and a twelve month high of $431.69. The stock has a market cap of $247.29 billion, a price-to-earnings ratio of 75.16, a PEG ratio of 3.78 and a beta of 1.35.
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.64 annualized dividend and a yield of 0.16%. NVIDIA’s dividend payout ratio is 13.94%.
In other NVIDIA news, EVP Ajay K. Puri sold 1,078 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $364.97, for a total value of $393,437.66. Following the completion of the sale, the executive vice president now owns 68,046 shares in the company, valued at approximately $24,834,748.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Brooke Seawell sold 629 shares of NVIDIA stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total value of $230,383.83. Following the sale, the director now directly owns 16,159 shares in the company, valued at approximately $5,918,556.93. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 53 shares of company stock worth $15,322 and have sold 250,738 shares worth $93,670,532. Insiders own 4.47% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth about $1,337,713,000. BlackRock Inc. raised its position in NVIDIA by 6.1% in the first quarter. BlackRock Inc. now owns 42,753,245 shares of the computer hardware maker’s stock worth $11,269,755,000 after purchasing an additional 2,439,025 shares in the last quarter. GQG Partners LLC bought a new position in NVIDIA during the fourth quarter worth about $572,319,000. Wellington Management Group LLP lifted its stake in NVIDIA by 848.6% during the first quarter. Wellington Management Group LLP now owns 1,870,661 shares of the computer hardware maker’s stock worth $493,106,000 after purchasing an additional 1,673,465 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in NVIDIA during the first quarter valued at approximately $55,241,000. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Company Profile
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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