NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc in a note issued to investors on Friday, April 14th. They currently have a $130.00 price objective on the computer hardware maker’s stock. Goldman Sachs Group Inc’s price target points to a potential downside of 2.31% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a report on Friday, February 10th. Instinet increased their target price on NVIDIA to $100.00 in a research note on Friday, February 10th. Royal Bank of Canada increased their target price on NVIDIA from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. Summit Redstone set a $120.00 target price on NVIDIA and gave the company a “buy” rating in a research note on Saturday, February 11th. Finally, Canaccord Genuity reduced their target price on NVIDIA from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. NVIDIA has an average rating of “Hold” and an average target price of $109.34.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA had a net margin of 23.82% and a return on equity of 34.13%. The business’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 19th. NVIDIA’s dividend payout ratio is presently 21.96%.
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In related news, insider Michael Byron sold 750 shares of NVIDIA stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $102.09, for a total transaction of $76,567.50. Following the transaction, the insider now owns 159,442 shares in the company, valued at approximately $16,277,433.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 32,820 shares of NVIDIA stock in a transaction on Monday, March 20th. The shares were sold at an average price of $109.00, for a total transaction of $3,577,380.00. Following the transaction, the director now owns 35,927 shares in the company, valued at approximately $3,916,043. The disclosure for this sale can be found here. Insiders have sold a total of 312,240 shares of company stock worth $34,347,618 in the last quarter. Corporate insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Norges Bank purchased a new position in NVIDIA during the fourth quarter worth $526,137,000. Baillie Gifford & Co. boosted its position in NVIDIA by 36.7% in the fourth quarter. Baillie Gifford & Co. now owns 14,140,920 shares of the computer hardware maker’s stock worth $1,509,402,000 after buying an additional 3,795,368 shares during the period. Jennison Associates LLC boosted its position in NVIDIA 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 during the period. Wellington Management Group LLP boosted its position in NVIDIA by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares during the period. Finally, Vanguard Group Inc. boosted its position in NVIDIA by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock worth $4,093,612,000 after buying an additional 2,597,209 shares during the period. Institutional investors own 85.00% of the company’s stock.
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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