In yesterday’s Wall Street session, NVIDIA Corporation (NASDAQ:NVDA) shares traded at $468.35, up 1.78% from the previous session.
As of this writing, 51 analysts cover NVIDIA Corporation (NASDAQ:NVDA). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $1100.00 and a low of $392.35, we find $622.50. Given the previous closing price of $460.18, this indicates a potential upside of 35.27 percent. NVDA stock price is now 6.15% away from the 50-day moving average and 63.32% away from the 200-day moving average. The market capitalization of the company currently stands at $1185.61B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
There are 4 analysts who have given it a hold rating, whereas 40 have given it a buy rating. Brokers who have rated the stock have averaged $645.37 as their price target over the next twelve months.
With the price target enhanced from $440 to $600, Stifel Upgraded its rating from Hold to Buy for NVIDIA Corporation (NASDAQ: NVDA).
In other news, Dabiri John, Director sold 283 shares of the company’s stock on Jun 26. The stock was sold for $120,142 at an average price of $424.53. Upon completion of the transaction, the Director now directly owns 2,401 shares in the company, valued at $1.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 20, Director STEVENS MARK A sold 40,000 shares of the business’s stock. A total of $17,282,441 was realized by selling the stock at an average price of $432.06. This leaves the insider owning 1,052,286 shares of the company worth $492.84 million. Insiders disposed of 4,029,809 shares of company stock worth roughly $1.89 billion over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NVDA stock. A new stake in NVIDIA Corporation shares was purchased by SUSTAINABLE GROWTH ADVISERS, LP during the first quarter worth $459,389,000. WCM INVESTMENT MANAGEMENT, LLC invested $351,790,000 in shares of NVDA during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in NVIDIA Corporation valued at approximately $351,494,000. LONE PINE CAPITAL LLC acquired a new stake in NVDA for approximately $300,516,000. ALYESKA INVESTMENT GROUP, L.P. purchased a new stake in NVDA valued at around $287,664,000 in the second quarter. In total, there are 4,343 active investors with 65.90% ownership of the company’s stock.
Monday morning saw NVIDIA Corporation (NASDAQ: NVDA) opened at $470.12. During the past 12 months, NVIDIA Corporation has had a low of $108.13 and a high of $502.66. As of last week, the company has a debt-to-equity ratio of 0.45, a current ratio of 3.40, and a quick ratio of 2.80. The fifty day moving average price for NVDA is $442.04 and a two-hundred day moving average price translates $288.38 for the stock.
The latest earnings results from NVIDIA Corporation (NASDAQ: NVDA) was released for Jul, 2023. According to the Semiconductors Company, earnings per share came in at $2.5, beating analysts’ expectations of $1.93 by 0.57. This compares to $0.26 EPS in the same period last year. The net profit margin was 13.40% and return on equity was 19.00% for NVDA. The company reported revenue of $13.51 billion for the quarter, compared to $6.7 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 101.48 percent. For the current quarter, analysts expect NVDA to generate $14.63B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/28/2023. Investors who held shares on 09/07/2023 were paid a $0.04 dividend. On an annualized basis, this represents a $0.16 dividend and a 0.03% percent yield. There was an ex-dividend date of 09/06/2023 for this dividend. In terms of dividend payout ratio, NVDA is presently at 9.10%.
