NVIDIA Co. (NVDA) Upgraded at Vetr Inc.

NVIDIA Co. (NASDAQ:NVDA) was upgraded by Vetr from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday. The firm presently has a $40.86 price target on the computer hardware maker’s stock. Vetr‘s price target indicates a potential downside of 10.49% from the company’s current price.

A number of institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in NVIDIA by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 45,325,807 shares of the computer hardware maker’s stock worth $1,493,938,000 after buying an additional 1,698,336 shares during the period. Primecap Management Co. CA raised its position in NVIDIA by 0.5% in the first quarter. Primecap Management Co. CA now owns 29,210,850 shares of the computer hardware maker’s stock worth $1,040,783,000 after buying an additional 143,175 shares during the period. FIL Ltd raised its position in NVIDIA by 15.9% in the fourth quarter. FIL Ltd now owns 7,239,939 shares of the computer hardware maker’s stock worth $238,628,000 after buying an additional 995,800 shares during the period. Norges Bank bought a new position in NVIDIA during the fourth quarter worth $169,615,000. Finally, Winton Capital Group Ltd raised its position in NVIDIA by 11.0% in the fourth quarter. Winton Capital Group Ltd now owns 3,733,398 shares of the computer hardware maker’s stock worth $123,053,000 after buying an additional 370,776 shares during the period.

NVIDIA (NASDAQ:NVDA) traded up 1.06% on Thursday, reaching $45.65. 7,749,081 shares of the company were exchanged. NVIDIA has a 12-month low of $19.09 and a 12-month high of $45.98. The company’s 50-day moving average price is $38.19 and its 200-day moving average price is $33.10. The stock has a market capitalization of $24.51 billion and a P/E ratio of 38.95.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. During the same quarter in the previous year, the business earned $0.33 EPS. The business earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts anticipate that NVIDIA will post $1.56 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Thursday, May 26th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Tuesday, May 24th.

In other NVIDIA news, EVP Ajay K. Puri sold 94,842 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $32.90, for a total transaction of $3,120,301.80. Following the transaction, the executive vice president now owns 498,566 shares of the company’s stock, valued at $16,402,821.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Byron sold 19,347 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $43.38, for a total value of $839,272.86. Following the transaction, the insider now directly owns 155,022 shares in the company, valued at approximately $6,724,854.36. The disclosure for this sale can be found here.

Other analysts have also issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $37.00 target price (up previously from $36.00) on shares of NVIDIA in a research note on Thursday, February 18th. Jefferies Group reissued a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of NVIDIA in a research report on Wednesday, February 17th. Canaccord Genuity increased their price target on NVIDIA from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. Raymond James reissued a “buy” rating on shares of NVIDIA in a research report on Thursday, February 18th. Finally, MKM Partners reissued a “buy” rating on shares of NVIDIA in a research report on Saturday, February 20th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. NVIDIA presently has an average rating of “Hold” and a consensus price target of $36.36.

NVIDIA Corporation (NVIDIA) is engaged in visual computing, enabling individuals to interact with digital ideas, data and entertainment. The Company is engaged in creating NVIDIA-branded products and services, offering its processors to original equipment manufacturers (OEMs), and licensing its intellectual property.

To view Vetr’s full report, visit Vetr’s official website.