Holderness Investments Co. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,481 shares of the computer hardware maker’s stock after acquiring an additional 200 shares during the period. Holderness Investments Co.’s holdings in NVIDIA were worth $1,535,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of NVIDIA by 3.5% in the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock valued at $11,512,019,000 after buying an additional 1,656,748 shares during the period. Janus Henderson Group PLC boosted its stake in shares of NVIDIA by 63.7% in the second quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock valued at $1,000,199,000 after buying an additional 1,643,689 shares during the period. Jennison Associates LLC boosted its stake in shares of NVIDIA by 18.8% in the second quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock valued at $1,847,847,000 after buying an additional 1,234,191 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of NVIDIA by 24,174.1% in the first quarter. Summit Trail Advisors LLC now owns 756,866 shares of the computer hardware maker’s stock valued at $757,000 after buying an additional 753,748 shares during the period. Finally, Schwab Charitable Fund bought a new stake in shares of NVIDIA in the second quarter valued at approximately $111,151,000. Institutional investors own 65.68% of the company’s stock.
Several brokerages recently issued reports on NVDA. Needham & Company LLC boosted their price target on NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of NVIDIA in a research note on Friday, August 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $265.00 price target on shares of NVIDIA in a research note on Friday, August 17th. Finally, Cowen cut their price target on NVIDIA from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, August 17th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus target price of $283.35.
Shares of NASDAQ:NVDA opened at $276.43 on Monday. The firm has a market cap of $163.07 billion, a PE ratio of 59.19, a P/E/G ratio of 3.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. NVIDIA Co. has a 52-week low of $170.16 and a 52-week high of $285.22.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.28. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. sell-side analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, August 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. NVIDIA’s dividend payout ratio (DPR) is presently 12.85%.
In other news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the completion of the transaction, the director now directly owns 31,725 shares in the company, valued at $7,680,939.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 889 shares of the company’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The disclosure for this sale can be found here. Insiders have sold 100,932 shares of company stock valued at $24,452,088 over the last quarter. Company insiders own 4.70% of the company’s stock.
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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