Nvidia Corp. (NASDAQ:NVDA) had its price objective boosted by investment analysts at Royal Bank Of Canada from $72.00 to $80.00 in a research report issued on Tuesday. The brokerage presently has an “outperform” rating on the computer hardware maker’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 15.04% from the stock’s previous close.
Several other research firms have also commented on NVDA. Jefferies Group boosted their price target on shares of Nvidia Corp. from $56.00 to $69.00 and gave the company a “buy” rating in a report on Monday, August 8th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Nvidia Corp. in a research report on Wednesday, August 31st. B. Riley reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Nvidia Corp. in a research report on Thursday, October 27th. Goldman Sachs Group Inc. lifted their price objective on shares of Nvidia Corp. to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Nvidia Corp. in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.15.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 94.16 on Tuesday. The stock has a market cap of $50.66 billion, a PE ratio of 48.11 and a beta of 1.17. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $95.25. The stock’s 50 day moving average is $74.93 and its 200-day moving average is $59.58.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.57 by $0.37. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The business earned $2 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. Equities analysts expect that Nvidia Corp. will post $2.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, November 23rd. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s dividend payout ratio is currently 29.32%.
In related news, CFO Colette Kress sold 38,039 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $62.18, for a total value of $2,365,265.02. Following the sale, the chief financial officer now owns 512,374 shares of the company’s stock, valued at $31,859,415.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the completion of the sale, the director now directly owns 6,213 shares in the company, valued at approximately $388,436.76. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
A number of hedge funds have recently modified their holdings of NVDA. GSA Capital Partners LLP bought a new position in shares of Nvidia Corp. during the second quarter valued at approximately $3,248,000. Natixis raised its position in shares of Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock valued at $62,521,000 after buying an additional 836,276 shares in the last quarter. A.R.T. Advisors LLC raised its position in shares of Nvidia Corp. by 98.1% in the first quarter. A.R.T. Advisors LLC now owns 210,768 shares of the computer hardware maker’s stock valued at $7,509,000 after buying an additional 104,400 shares in the last quarter. Clark Capital Management Group Inc. bought a new position in shares of Nvidia Corp. during the first quarter valued at approximately $7,723,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Nvidia Corp. by 205.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 36,340 shares of the computer hardware maker’s stock valued at $1,295,000 after buying an additional 24,450 shares in the last quarter. 86.85% of the stock is currently owned by hedge funds and other institutional investors.
About Nvidia Corp.