Nvidia Stock Rated Buy On Data Center, AI, Self-Driving Car Markets

Indus Prns Limited Co holds 1.11% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA) for 70,000 shares. The stock had a trading volume of 8,468,415 shares. Mizuho reissued a "buy" rating and set a $170.00 price target (up from $145.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 28th. Eqis Capital Management Inc. now owns 7,132 shares of the computer hardware maker's stock worth $1,275,000 after acquiring an additional 1,642 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in NVIDIA Corporation in the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC raised its position in shares of NVIDIA by 186.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker's stock worth $2,715,000 after buying an additional 2,836 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in NVIDIA Corporation by 9.9% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker's stock worth $18,549,000 after buying an additional 13,802 shares during the period. Finally, Hanson McClain Inc. lifted its stake in shares of NVIDIA Corporation by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker's stock worth $127,000 after purchasing an additional 99 shares in the last quarter. Corporate insiders own 5.82% of the company's stock.

The stock increased 0.05% or $0.09 during the last trading session, reaching $191.03. BidaskClub raised NVIDIA Corporation from a "buy" rating to a "strong-buy" rating in a research report on Monday, July 24th. Royal Bank Of Canada lifted their price objective on shares of NVIDIA Corporation from $205.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday. Vetr cut shares of NVIDIA Corporation from a "buy" rating to a "hold" rating and set a $172.54 price objective for the company.in a research note on Thursday, August 31st. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. NVIDIA presently has an average rating of Hold and an average price target of $113.00.

Nvidia's "24-year history in parallel processing and the development of its ubiquitous CUDA platform has uniquely positioned the company to capitalize on the explosion of "intelligence machines" - hundreds of millions of AVs [autonomous vehicles] and trillions of IoT [internet of things] devices, all of which will generate significant network complexity and network consumption", analyst Rajvindra Gill wrote in a note to clients Friday entitled "Entering A World Where Software Will Write Itself: AI Is the Killer App for GPU". The firm's 50-day moving average price is $175.31 and its 200 day moving average price is $147.71. The stock is now 11.69% away from its 50-day simple moving average and 42.24% away from the 200 day average. The stock has a market capitalization of $114.62 billion, a P/E ratio of 54.94 and a beta of 1.28.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. On a consensus basis, analysts have given a recommendation of 2.40 on company shares. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities research analysts forecast that NVIDIA Corporation will post $3.64 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.56 annualized dividend and a yield of 0.29%. NVIDIA Corporation's payout ratio is 15.86%.

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In other news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. Hugh Johnson Advisors Llc sold 17,424 shares as the company's stock rose 26.83% with the market. The stock was sold at an average price of $171.01, for a total value of $69,943.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were sold at an average price of $98.30, for a total transaction of $4,096,161.00. The disclosure for this sale can be found here.

In other NVIDIA Corporation news, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction dated Friday, September 1st.

Gill also likes Nvidia's prospects in autonomous vehicles and artificial intelligence applications, which need high-performance processors. The Company's operates through two divisions: GPU and Tegra Processor.

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