Trade Report: Today, Nvidia Corp. (NVDA) Price Target Raised to $106.00

Today, Nvidia Corp. (NVDA) Price Target Raised to $106.00

Nvidia Corp. (NASDAQ:NVDA) had its price target lifted by MKM Partners from $87.00 to $106.00 in a report published on Tuesday morning. They currently have a buy rating on the computer hardware maker’s stock.

Several other equities research analysts also recently issued reports on the company. B. Riley restated a buy rating and issued a $100.00 price target on shares of Nvidia Corp. in a report on Thursday, November 17th. Vetr upgraded Nvidia Corp. from a strong sell rating to a sell rating and set a $80.58 price target for the company in a report on Tuesday, November 15th. Needham & Company LLC upgraded Nvidia Corp. from a hold rating to a buy rating and increased their price target for the stock from $87.97 to $100.00 in a report on Monday, November 14th. Brean Capital reaffirmed a hold rating on shares of Nvidia Corp. in a research report on Sunday, November 13th. Finally, Wells Fargo & Co. reaffirmed an underperform rating and set a $59.00 price objective (up from $33.00) on shares of Nvidia Corp. in a research report on Sunday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Nvidia Corp. currently has an average rating of Buy and a consensus target price of $72.15.

Nvidia Corp. (NASDAQ:NVDA) opened at 93.97 on Tuesday. The company has a market capitalization of $50.56 billion, a P/E ratio of 48.02 and a beta of 1.17. The firm has a 50-day moving average price of $74.16 and a 200 day moving average price of $59.16. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $95.25.

Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.37. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. Analysts expect that Nvidia Corp. will post $2.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.60%. This is a positive change from Nvidia Corp.’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, November 23rd. Nvidia Corp.’s payout ratio is presently 24.08%.

In other Nvidia Corp. news, CFO Colette Kress sold 38,039 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $62.18, for a total transaction of $2,365,265.02. Following the completion of the sale, the chief financial officer now directly owns 512,374 shares of the company’s stock, valued at approximately $31,859,415.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $87.74, for a total value of $3,070,900.00. Following the sale, the director now directly owns 41,213 shares of the company’s stock, valued at $3,616,028.62. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of NVDA. Vanguard Group Inc. raised its stake in shares of Nvidia Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 47,688,150 shares of the computer hardware maker’s stock worth $2,241,821,000 after buying an additional 601,606 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nvidia Corp. by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,986,585 shares of the computer hardware maker’s stock worth $798,539,000 after buying an additional 152,220 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Nvidia Corp. by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 13,714,909 shares of the computer hardware maker’s stock worth $939,746,000 after buying an additional 414,290 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Nvidia Corp. by 36.6% in the third quarter. Jennison Associates LLC now owns 12,844,514 shares of the computer hardware maker’s stock worth $880,106,000 after buying an additional 3,441,948 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Nvidia Corp. by 3.1% in the second quarter. Baillie Gifford & Co. now owns 5,301,449 shares of the computer hardware maker’s stock worth $249,221,000 after buying an additional 160,043 shares in the last quarter. 86.85% of the stock is owned by hedge funds and other institutional investors.

About Nvidia Corp.

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