Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by analysts at Bank of America Corp. in a research report issued to clients and investors on Wednesday. They currently have a $80.00 price objective on the computer hardware maker’s stock. Bank of America Corp.’s price objective would suggest a potential upside of 22.42% from the stock’s current price.
Several other research analysts have also issued reports on NVDA. B. Riley restated a “buy” rating and issued a $58.00 price target on shares of Nvidia Corp. in a research report on Monday, July 11th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Nvidia Corp. in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $58.59.
Nvidia Corp. (NASDAQ:NVDA) opened at 65.35 on Wednesday. The stock has a market cap of $34.96 billion, a P/E ratio of 42.94 and a beta of 1.25. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $69.70. The firm has a 50-day moving average price of $64.22 and a 200-day moving average price of $50.82.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. On average, equities research analysts predict that Nvidia Corp. will post $1.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a yield of 0.70%. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
In other news, CFO Colette Kress sold 38,039 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $62.18, for a total transaction of $2,365,265.02. Following the completion of the transaction, the chief financial officer now directly owns 512,374 shares in the company, valued at $31,859,415.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total transaction of $2,346,400.00. Following the transaction, the insider now owns 1,817,279 shares of the company’s stock, valued at $106,601,586.14. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Trinity Street Asset Management LLP increased its position in shares of Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares during the period. Natixis increased 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 during the period. Legal & General Group Plc increased its position in shares of Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares during the period. Clark Capital Management Group Inc. bought a new position in shares of Nvidia Corp. during the first quarter valued at about $7,723,000. Finally, Nordea Investment Management AB increased its position in shares of Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock valued at $1,590,000 after buying an additional 18,023 shares during the period. Institutional investors own 86.37% of the company’s stock.
About Nvidia Corp.