Bank of America Raises NVIDIA (NASDAQ:NVDA) Price Target to $550.00

In a report released on Tuesday morning, the amount was increased from $500.00 up to $550.00.
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Recent reports have been released by other analysts about the company. Jefferies Financial group raised their price target for NVIDIA in a report published on June 20th from $472.00 up to $500.00. Sanford C. Bernstein raised their price target for NVIDIA in a report published on Thursday, 25th May from $300.00 up to $475.00. In a report published on Thursday 18th May, NVIDIA was covered. The stock was given a hold rating. Daiwa Capital Markets, in a report published on Thursday 29th June, upgraded NVIDIA's rating from neutral to outperform and raised their target price from $408.00 up to $475.00. One analyst gave the stock a sell recommendation, six a hold recommendation, 31 a buy recommendation, and one a strong purchase recommendation. On Tuesday, the stock opened at $455.20. The stock's market cap is $1.12 trillion. It has a PE of 237.08, P/E/G of 3.14, and beta of 1.74. The company's current ratio is 3.43. Its quick ratio is 2.79. And its debt-to equity ratio is 0.40. NVIDIA's 1 year low is $108.13, and its 1 year high is $480.88. The 50-day simple moving is $397.23, and the 200-day simple is $290.28.

The last time ) released quarterly earnings was on May 24th. The computer hardware manufacturer reported $1.09 in earnings per share for the quarter. This beat analysts' estimates of $0.92, by $0.17. Revenue for the quarter was $7.19 billion, which is higher than analysts' expectations of $6.5 billion. NVIDIA's return on equity was 23.63%, and its net margin was 18.52%. NVIDIA's revenue for the quarter was down 13.2% compared to last year. In the same quarter of the prior year, NVIDIA posted earnings per share of $1.18. Analysts on the sell-side predict that NVIDIA's earnings per share will be 6.43 for this year.

NVIDIA Dividend Announcement

A quarterly dividend was also paid by the company on Friday 30th June. The $0.04 dividend was paid to shareholders who were registered on the Thursday, June 8, 2008. The ex-dividend day was Wednesday, 7th June. This is a $0.16 dividend with a yield of 0.04 percent. NVIDIA has a dividend payout ratio of 8.33%.

Insider Activities

In a transaction that took place on Thursday, 18th May, 23,084 shares were sold. The stock was bought at a price of $305 on average, resulting in a value of $7,040 620.00. The executive vice president owns directly 139,860 of the company's shares, worth approximately $42,657,000. The company sold 6,124 of its shares in a deal that took place on May 30th. The stock was purchased at an average of $406.51, resulting in a transaction total of $2,489 467.24. The chief financial officer owns directly 538,745 of the company stock valued at about $219,005,229.95. In a transaction on May 18th, 23,084 shares were sold. The stock was bought at an average of $305.00 for a value of $7040620.00. The executive vice president owns directly 139,860 of the company's shares, worth $42,657.300. Insiders sold 368.271 shares worth $147.115.953 in the last quarter. Insiders hold 3.99% of a company's shares.

Institutional Trading of NVIDIA

Recently, hedge funds and institutional investors increased or decreased their stakes. Contravisory Investment Management Inc. purchased a new position of shares in NVIDIA during the first quarter, valued at about $28,000. Nordwand Advisors LLC bought a stake in NVIDIA valued at approximately $28,000 during the first quarter. Graham Capital Wealth Management LLC acquired a new stake in NVIDIA shares in the first-quarter worth approximately $311,102,000. Quarry LP bought a new NVIDIA position in the first quarter for about $34,000. 25 LLC also purchased shares of NVIDIA during the first quarter, worth approximately $46,000. Institutional investors own 64.00% the stock.

NVIDIA - About NVIDIA

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NVIDIA Corporation is a provider of graphics and computing solutions, as well as networking and communications services in the United States. They also have offices in Taiwan, China and other countries. The company's Graphics division offers GeForce graphics cards for gaming, PCs and the GeForce Now game streaming service, as well as solutions for gaming platforms. It also provides Quadro/NVIDIA workstation GPUs and vGPU for cloud-based virtual and visual computing, automotive platforms for infotainment, and Omniverse software to create 3D designs and virtual environments.

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