Trading Report: The Nvidia Corp. (NVDA) Now Covered by Citigroup Inc.

The Nvidia Corp. (NVDA) Now Covered by Citigroup Inc.

Equities research analysts at Citigroup Inc. initiated coverage on shares of Nvidia Corp. (NASDAQ:NVDA) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $90.00 price target on the computer hardware maker’s stock. Citigroup Inc.’s price objective indicates a potential downside of 4.42% from the stock’s current price.

Several other research firms have also commented on NVDA. Jefferies Group increased their price target on shares of Nvidia Corp. from $56.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, August 8th. RBC Capital Markets reissued an “outperform” rating and set a $72.00 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 31st. B. Riley reissued a “buy” rating and set a $85.00 price objective on shares of Nvidia Corp. in a research note on Thursday, October 27th. Goldman Sachs Group Inc. upped their price objective on shares of Nvidia Corp. to $70.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Finally, BMO Capital Markets reissued a “hold” rating and set a $59.00 price objective on shares of Nvidia Corp. in a research note on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Nvidia Corp. presently has an average rating of “Buy” and a consensus price target of $72.15.

Nvidia Corp. (NASDAQ:NVDA) traded up 0.20% during mid-day trading on Wednesday, reaching $94.16. 4,889,078 shares of the company traded hands. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $95.25. The stock has a 50-day moving average of $74.93 and a 200 day moving average of $59.58. The stock has a market capitalization of $50.66 billion, a PE ratio of 48.11 and a beta of 1.17.

Nvidia Corp. (NASDAQ:NVDA) last released 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. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The company’s quarterly revenue was up 53.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. Equities research analysts expect that Nvidia Corp. will post $2.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.56 annualized dividend and a dividend yield of 0.59%. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s payout ratio is currently 29.32%.

In other news, Director A Brooke Seawell sold 30,000 shares of Nvidia Corp. stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $62.52, for a total value of $1,875,600.00. Following the transaction, the director now directly owns 6,213 shares of the company’s stock, valued at $388,436.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 38,039 shares of Nvidia Corp. 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 transaction, the chief financial officer now directly owns 512,374 shares in the company, valued at $31,859,415.32. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. West Oak Capital LLC increased its position in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock valued at $107,000 after buying an additional 1,010 shares during the period. Cornerstone Advisors Inc. increased its position in Nvidia Corp. by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock valued at $122,000 after buying an additional 612 shares during the period. Stephens Inc. AR increased its position in Nvidia Corp. by 10.2% in the third quarter. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker’s stock valued at $132,000 after buying an additional 179 shares during the period. Advisors Preferred LLC increased its position in Nvidia Corp. by 791.9% in the third quarter. Advisors Preferred LLC now owns 2,310 shares of the computer hardware maker’s stock valued at $158,000 after buying an additional 2,051 shares during the period. Finally, Brick & Kyle Associates increased its position in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares during the period. 86.85% of the stock is currently owned by institutional investors and hedge funds.

Nvidia Corp. Company Profile

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