Trade Report: Today, Bank of America Corp. Reiterates Buy Rating for Nvidia Corp. (NVDA)

Today, Bank of America Corp. Reiterates Buy Rating for Nvidia Corp. (NVDA)

Bank of America Corp. restated their buy rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a research note published on Monday. Bank of America Corp. currently has a $80.00 price target on the computer hardware maker’s stock.

Other equities research analysts also recently issued reports about the company. Nomura raised Nvidia Corp. from a neutral rating to a buy rating and boosted their target price for the stock from $35.00 to $55.00 in a report on Monday, June 13th. MKM Partners reissued a buy rating and issued a $52.00 target price (up from $43.00) on shares of Nvidia Corp. in a report on Monday, June 13th. Jefferies Group raised Nvidia Corp. to a buy rating and boosted their target price for the stock from $3.50 to $56.00 in a report on Monday, June 13th. Canaccord Genuity reissued a buy rating and issued a $55.00 target price (up from $45.00) on shares of Nvidia Corp. in a report on Thursday, June 16th. Finally, Zacks Investment Research raised Nvidia Corp. from a hold rating to a buy rating and set a $51.00 target price on the stock in a report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Nvidia Corp. presently has a consensus rating of Hold and a consensus target price of $58.60.

Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 67.34 on Monday. Nvidia Corp. has a one year low of $24.75 and a one year high of $69.70. The company has a 50-day moving average price of $63.64 and a 200 day moving average price of $49.79. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 44.24 and a beta of 1.25.

Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities research analysts expect that Nvidia Corp. will post $1.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were issued a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.68%. Nvidia Corp.’s dividend payout ratio is presently 30.26%.

In other news, Director Tench Coxe sold 48,000 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $63.66, for a total value of $3,055,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 40,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.94, for a total value of $2,117,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,817,279 shares of the company’s stock, valued at approximately $96,206,750.26. The disclosure for this sale can be found here. 5.82% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of NVDA. Washington Trust Bank boosted its stake in Nvidia Corp. by 0.8% in the third quarter. Washington Trust Bank now owns 6,753 shares of the computer hardware maker’s stock worth $463,000 after buying an additional 54 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in Nvidia Corp. by 0.3% in the second quarter. Atlantic Trust Group LLC now owns 27,441 shares of the computer hardware maker’s stock worth $1,289,000 after buying an additional 81 shares during the last quarter. IFC Holdings Incorporated FL boosted its stake in Nvidia Corp. by 1.2% in the second quarter. IFC Holdings Incorporated FL now owns 8,639 shares of the computer hardware maker’s stock worth $403,000 after buying an additional 100 shares during the last quarter. Advantus Capital Management Inc boosted its stake in Nvidia Corp. by 0.3% in the second quarter. Advantus Capital Management Inc now owns 50,125 shares of the computer hardware maker’s stock worth $2,356,000 after buying an additional 131 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its stake in Nvidia Corp. by 0.6% in the first quarter. Baker Avenue Asset Management LP now owns 32,830 shares of the computer hardware maker’s stock worth $1,170,000 after buying an additional 200 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

Nvidia Corp. Company Profile

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