NVIDIA Corporation (NVDA) Given New $240.00 Price Target at Royal Bank of Canada

NVIDIA Corporation (NASDAQ:NVDA) had its target price increased by Royal Bank of Canada from $230.00 to $240.00 in a research report released on Friday morning. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

Several other equities analysts have also recently issued reports on NVDA. B. Riley reiterated a buy rating and set a $200.00 price target on shares of NVIDIA Corporation in a research report on Sunday, August 13th. J P Morgan Chase & Co reiterated a hold rating and set a $207.00 price target on shares of NVIDIA Corporation in a research report on Friday. Citigroup Inc. reiterated a buy rating and set a $240.00 price target on shares of NVIDIA Corporation in a research report on Friday. Deutsche Bank AG boosted their price target on shares of NVIDIA Corporation from $145.00 to $190.00 and gave the company a hold rating in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a hold rating and set a $110.00 price target on shares of NVIDIA Corporation in a research report on Friday, August 11th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $183.27.

Shares of NVIDIA Corporation (NASDAQ NVDA) traded up $10.82 during trading hours on Friday, hitting $216.14. 31,331,300 shares of the stock traded hands, compared to its average volume of 17,773,291. NVIDIA Corporation has a 52-week low of $78.50 and a 52-week high of $218.67. The company has a current ratio of 7.82, a quick ratio of 6.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $123,192.01, a P/E ratio of 50.57, a price-to-earnings-growth ratio of 5.07 and a beta of 1.23.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 43.42%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. NVIDIA Corporation’s quarterly revenue was up 31.5% on a year-over-year basis. equities research analysts expect that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.28%. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 13.90%.

In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction on Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 22,808 shares of NVIDIA Corporation stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders have sold 452,784 shares of company stock valued at $81,437,724 over the last ninety days. 5.82% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NVDA. Fiduciary Trust Co. bought a new stake in shares of NVIDIA Corporation in the 1st quarter worth about $435,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of NVIDIA Corporation by 6.7% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock worth $33,573,000 after acquiring an additional 19,245 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of NVIDIA Corporation in the 1st quarter worth about $1,454,000. Caxton Associates LP bought a new stake in shares of NVIDIA Corporation in the 1st quarter worth about $2,778,000. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of NVIDIA Corporation by 138.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 7,646 shares of the computer hardware maker’s stock worth $765,000 after acquiring an additional 4,442 shares during the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.

About NVIDIA Corporation

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.

Analyst Recommendations for NVIDIA Corporation (NASDAQ:NVDA)

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