Needham & Company LLC restated their buy rating on shares of NVIDIA (NASDAQ:NVDA – Get Rating) in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $270.00 price objective on the computer hardware maker’s stock.
NVDA has been the subject of a number of other reports. Tigress Financial dropped their price target on shares of NVIDIA from $310.00 to $250.00 and set a buy rating for the company in a research report on Thursday, December 8th. Cowen boosted their target price on NVIDIA from $240.00 to $260.00 in a research report on Thursday, February 23rd. Oppenheimer raised their price target on NVIDIA from $275.00 to $300.00 and gave the stock an outperform rating in a research report on Wednesday. Evercore ISI lifted their price objective on NVIDIA from $245.00 to $300.00 in a research note on Thursday, February 23rd. Finally, Citigroup increased their target price on NVIDIA from $245.00 to $305.00 and gave the stock a buy rating in a research note on Friday, March 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $257.05.
NVIDIA Trading Up 1.0 %
Shares of NVDA opened at $264.68 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $217.05 and a 200 day moving average price of $169.51. NVIDIA has a 12-month low of $108.13 and a 12-month high of $289.46. The firm has a market capitalization of $653.76 billion, a P/E ratio of 152.11, a P/E/G ratio of 4.60 and a beta of 1.76.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend is Tuesday, March 7th. NVIDIA’s payout ratio is 9.20%.
Insider Transactions at NVIDIA
In related news, CFO Colette Kress sold 6,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now directly owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark L. Perry sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $236.37, for a total value of $4,727,400.00. Following the completion of the sale, the director now owns 140,000 shares in the company, valued at $33,091,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 6,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at approximately $128,723,635.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,773 shares of company stock worth $41,275,700. Corporate insiders own 4.04% of the company’s stock.
Institutional Investors Weigh In On NVIDIA
Several institutional investors have recently made changes to their positions in the stock. Claro Advisors LLC lifted its stake in shares of NVIDIA by 60.2% in the fourth quarter. Claro Advisors LLC now owns 7,947 shares of the computer hardware maker’s stock valued at $1,161,000 after purchasing an additional 2,986 shares during the period. Mather Group LLC. increased its holdings in NVIDIA by 9.0% in the fourth quarter. Mather Group LLC. now owns 7,881 shares of the computer hardware maker’s stock valued at $1,152,000 after buying an additional 648 shares in the last quarter. Flagstone Financial Management acquired a new stake in shares of NVIDIA during the 4th quarter valued at approximately $286,000. Capital Asset Advisory Services LLC boosted its stake in shares of NVIDIA by 17.3% during the 4th quarter. Capital Asset Advisory Services LLC now owns 14,551 shares of the computer hardware maker’s stock worth $2,151,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Great Lakes Retirement Inc. acquired a new stake in shares of NVIDIA in the 4th quarter worth approximately $7,007,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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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