Eagle Asset Management Inc. cut its position in Nvidia (NASDAQ:NVDA) by 26.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,686 shares of the computer hardware maker’s stock after selling 87,209 shares during the quarter. Eagle Asset Management Inc.’s holdings in Nvidia were worth $57,130,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Silvant Capital Management LLC acquired a new position in Nvidia in the 1st quarter valued at $6,830,000. KCM Investment Advisors LLC raised its holdings in Nvidia by 306.1% in the 1st quarter. KCM Investment Advisors LLC now owns 7,440 shares of the computer hardware maker’s stock valued at $1,723,000 after acquiring an additional 5,608 shares in the last quarter. Alpine Woods Capital Investors LLC raised its holdings in Nvidia by 29.4% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 4,400 shares of the computer hardware maker’s stock valued at $1,019,000 after acquiring an additional 1,000 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in Nvidia by 342.6% in the 1st quarter. Banque Pictet & Cie SA now owns 17,702 shares of the computer hardware maker’s stock valued at $4,100,000 after acquiring an additional 13,702 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in Nvidia by 2.1% in the 1st quarter. Korea Investment CORP now owns 434,256 shares of the computer hardware maker’s stock valued at $100,569,000 after acquiring an additional 8,756 shares in the last quarter. Institutional investors and hedge funds own 65.00% of the company’s stock.
In other Nvidia news, Director Persis Drell sold 5,141 shares of the company’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $220.73, for a total value of $1,134,772.93. Following the sale, the director now owns 20,963 shares in the company, valued at approximately $4,627,162.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 38,676 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $255.36, for a total value of $9,876,303.36. Following the completion of the sale, the executive vice president now owns 508,962 shares in the company, valued at approximately $129,968,536.32. The disclosure for this sale can be found here. In the last quarter, insiders acquired 624 shares of company stock worth $10,998 and sold 75,969 shares worth $18,708,706. Insiders own 4.70% of the company’s stock.
NVDA has been the subject of a number of research analyst reports. SunTrust Banks reissued a “buy” rating and set a $305.00 price target (up previously from $253.00) on shares of Nvidia in a report on Friday, February 9th. Morgan Stanley boosted their price target on Nvidia from $222.00 to $258.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Vetr cut Nvidia from a “hold” rating to a “sell” rating and set a $234.76 price target for the company. in a report on Monday, January 29th. Needham & Company LLC boosted their price target on Nvidia to $300.00 in a report on Friday, February 9th. Finally, Goldman Sachs cut Nvidia from a “conviction-buy” rating to a “buy” rating and set a $281.00 price target for the company. in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Nvidia currently has a consensus rating of “Buy” and a consensus target price of $255.65.
Shares of NVDA stock opened at $244.24 on Tuesday. Nvidia has a twelve month low of $135.71 and a twelve month high of $260.50. The firm has a market cap of $149.29 billion, a P/E ratio of 52.30, a PEG ratio of 3.39 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54.
Nvidia (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.58. Nvidia had a return on equity of 52.18% and a net margin of 34.44%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 65.6% on a year-over-year basis. equities research analysts expect that Nvidia will post 7.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 24th will be given a $0.15 dividend. The ex-dividend date is Wednesday, May 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Nvidia’s dividend payout ratio (DPR) is presently 12.85%.
Nvidia Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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