Rosenblatt Securities reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA – Get Rating) in a report released on Wednesday morning, Benzinga reports. They currently have a $320.00 target price on the computer hardware maker’s stock.
Other research analysts have also issued research reports about the stock. Cowen increased their target price on shares of NVIDIA from $240.00 to $260.00 in a research report on Thursday, February 23rd. Morgan Stanley upgraded shares of NVIDIA from an equal weight rating to an overweight rating and increased their price objective for the stock from $255.00 to $304.00 in a research note on Thursday, March 16th. Cowen boosted their price target on NVIDIA from $200.00 to $220.00 in a report on Monday, December 12th. Susquehanna reissued a positive rating and set a $265.00 target price on shares of NVIDIA in a research note on Thursday, March 9th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $270.00 target price on shares of NVIDIA in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $257.05.
NVIDIA Stock Performance
NASDAQ NVDA opened at $264.68 on Wednesday. The stock has a market cap of $653.76 billion, a PE ratio of 152.11, a P/E/G ratio of 4.60 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The firm has a 50-day moving average of $217.05 and a 200-day moving average of $169.51. NVIDIA has a 52-week low of $108.13 and a 52-week high of $289.46.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. NVIDIA’s payout ratio is 9.20%.
Insider Transactions at NVIDIA
In other news, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction on Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Colette Kress sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the transaction, 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 is accessible through this link. Also, Director Mark L. Perry sold 20,000 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares in the company, valued at approximately $33,091,800. The disclosure for this sale can be found here. Insiders sold 232,773 shares of company stock valued at $41,275,700 over the last three months. Company insiders own 4.04% of the company’s stock.
Institutional Investors Weigh In On NVIDIA
Several institutional investors have recently bought and sold shares of NVDA. Norges Bank bought a new stake in NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC grew its position in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after buying an additional 19,574,443 shares during the last quarter. Jennison Associates LLC increased its position in NVIDIA by 34.8% during the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after purchasing an additional 6,013,647 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
About NVIDIA
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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