NVIDIA (NASDAQ:NVDA) had its price target lifted by Royal Bank of Canada from $350.00 to $385.00 in a research note published on Tuesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the computer hardware maker’s stock.
NVDA has been the topic of a number of other research reports. Oppenheimer started coverage on NVIDIA in a research report on Friday, May 15th. They issued a buy rating and a $350.00 price objective on the stock. Morgan Stanley raised their price target on NVIDIA from $268.00 to $282.00 and gave the company an overweight rating in a research report on Tuesday, April 28th. BidaskClub upgraded NVIDIA from a buy rating to a strong-buy rating in a report on Wednesday, April 1st. Goldman Sachs Group reiterated a buy rating on shares of NVIDIA in a report on Tuesday, February 18th. Finally, Barclays reiterated a buy rating and issued a $300.00 price objective on shares of NVIDIA in a report on Friday, February 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $340.68.
Shares of NVDA stock traded up $10.04 on Tuesday, reaching $361.05. The company’s stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company has a quick ratio of 7.13, a current ratio of 7.67 and a debt-to-equity ratio of 0.21. NVIDIA has a 12-month low of $132.60 and a 12-month high of $363.72. The company has a market capitalization of $215.92 billion, a P/E ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. The stock’s 50 day simple moving average is $292.70 and its 200-day simple moving average is $252.32.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.44. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 38.7% compared to the same quarter last year. Research analysts expect that NVIDIA will post 6.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.18%. NVIDIA’s payout ratio is 13.94%.
In other news, Director Mark A. Stevens sold 60,000 shares of NVIDIA stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $261.63, for a total transaction of $15,697,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Gaither sold 15,669 shares of NVIDIA stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the transaction, the director now owns 2,221 shares of the company’s stock, valued at $598,359.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,669 shares of company stock worth $27,025,985. Insiders own 4.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Budros Ruhlin & Roe Inc. lifted its holdings in shares of NVIDIA by 2.4% during the first quarter. Budros Ruhlin & Roe Inc. now owns 1,434 shares of the computer hardware maker’s stock valued at $378,000 after purchasing an additional 33 shares during the last quarter. Solstein Capital LLC lifted its holdings in shares of NVIDIA by 11.1% during the first quarter. Solstein Capital LLC now owns 360 shares of the computer hardware maker’s stock valued at $95,000 after purchasing an additional 36 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its holdings in shares of NVIDIA by 7.3% during the first quarter. San Francisco Sentry Investment Group CA now owns 572 shares of the computer hardware maker’s stock valued at $151,000 after purchasing an additional 39 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of NVIDIA by 1.2% during the fourth quarter. HM Payson & Co. now owns 3,517 shares of the computer hardware maker’s stock valued at $828,000 after purchasing an additional 40 shares during the last quarter. Finally, Spotlight Asset Group Inc. lifted its holdings in shares of NVIDIA by 2.2% during the first quarter. Spotlight Asset Group Inc. now owns 1,886 shares of the computer hardware maker’s stock valued at $497,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.
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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