Financial Sense Advisors Inc. bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 1,517 shares of the computer hardware maker’s stock, valued at approximately $271,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of NVIDIA Corporation by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after purchasing an additional 2,676,976 shares in the last quarter. Edgewood Management LLC raised its position in shares of NVIDIA Corporation by 21.9% during the 1st quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after acquiring an additional 1,074,303 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of NVIDIA Corporation by 8.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,720,631 shares of the computer hardware maker’s stock valued at $827,110,000 after acquiring an additional 463,306 shares in the last quarter. Janus Capital Management LLC raised its position in shares of NVIDIA Corporation by 20.0% during the 1st quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after acquiring an additional 895,591 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of NVIDIA Corporation by 19.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after acquiring an additional 768,200 shares in the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.
Several brokerages have weighed in on NVDA. Vetr raised NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 target price on the stock in a research report on Wednesday, September 6th. Needham & Company LLC reissued a “buy” rating on shares of NVIDIA Corporation in a research note on Friday, August 11th. Citigroup Inc. reissued a “buy” rating and issued a $210.00 price target (up previously from $185.00) on shares of NVIDIA Corporation in a research note on Friday, September 29th. Canaccord Genuity reissued a “buy” rating and issued a $155.00 price target on shares of NVIDIA Corporation in a research note on Monday, July 17th. Finally, Bank of America Corporation set a $210.00 target price on NVIDIA Corporation and gave the company a “buy” rating in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA Corporation currently has a consensus rating of “Hold” and a consensus target price of $183.27.
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In related news, CFO Colette Kress sold 22,808 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the sale, the director now owns 16,507 shares in the company, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 452,784 shares of company stock worth $81,437,724. Corporate insiders own 5.82% of the company’s stock.
NVIDIA Corporation (NASDAQ NVDA) opened at $216.14 on Friday. NVIDIA Corporation has a 52 week low of $78.50 and a 52 week high of $218.67. The company has a quick ratio of 6.99, a current ratio of 7.82 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $123,192.01, a PE ratio of 50.57, a price-to-earnings-growth ratio of 5.07 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 43.42% and a net margin of 28.78%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue was up 31.5% on a year-over-year basis. equities research analysts predict that NVIDIA Corporation will post 3.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA Corporation’s payout ratio is 13.90%.
NVIDIA Corporation Company Profile
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.
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