Several other analysts also recently issued reports on NVDA. Royal Bank of Canada boosted their price target on NVIDIA from $300.00 to $310.00 and gave the company an outperform rating in a research note on Monday, June 25th. BidaskClub downgraded NVIDIA from a strong-buy rating to a buy rating in a research note on Tuesday, June 26th. Benchmark initiated coverage on NVIDIA in a research note on Tuesday, June 26th. They issued a buy rating and a $280.00 price target for the company. FBN Securities initiated coverage on NVIDIA in a report on Tuesday, June 26th. They issued an outperform rating and a $300.00 price objective for the company. Finally, Zacks Investment Research cut NVIDIA from a buy rating to a hold rating in a report on Wednesday, July 11th. Nine analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $291.16.
NVDA opened at $265.77 on Friday. The firm has a market capitalization of $170.86 billion, a P/E ratio of 56.91, a PEG ratio of 3.68 and a beta of 1.64. NVIDIA has a 1 year low of $180.58 and a 1 year high of $292.76. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Thursday, August 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.23%. NVIDIA’s dividend payout ratio (DPR) is currently 12.85%.
In other news, insider Michael Byron sold 11,257 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the transaction, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. Insiders have sold a total of 113,707 shares of company stock valued at $32,347,973 in the last three months. 4.70% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of NVDA. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of NVIDIA by 20.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,378 shares of the computer hardware maker’s stock worth $551,000 after buying an additional 400 shares in the last quarter. BB&T Securities LLC grew its position in NVIDIA by 6.4% during the 1st quarter. BB&T Securities LLC now owns 8,360 shares of the computer hardware maker’s stock worth $1,936,000 after acquiring an additional 502 shares during the last quarter. Baird Financial Group Inc. grew its position in NVIDIA by 27.4% during the 1st quarter. Baird Financial Group Inc. now owns 59,126 shares of the computer hardware maker’s stock worth $13,693,000 after acquiring an additional 12,723 shares during the last quarter. Beck Capital Management LLC grew its position in NVIDIA by 2.1% during the 1st quarter. Beck Capital Management LLC now owns 38,106 shares of the computer hardware maker’s stock worth $8,825,000 after acquiring an additional 773 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in NVIDIA by 17.1% during the 1st quarter. IHT Wealth Management LLC now owns 5,188 shares of the computer hardware maker’s stock worth $1,147,000 after acquiring an additional 758 shares during the last quarter. 65.69% of the stock is owned by institutional investors.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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