Institute for Wealth Management LLC. lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 5.0% in the 2nd quarter, Holdings Channel reports. The fund owned 22,239 shares of the computer hardware maker’s stock after selling 1,179 shares during the quarter. NVIDIA accounts for 0.8% of Institute for Wealth Management LLC.’s holdings, making the stock its 17th biggest holding. Institute for Wealth Management LLC.’s holdings in NVIDIA were worth $3,652,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Thor Advisors LLC bought a new position in shares of NVIDIA in the 1st quarter worth approximately $29,000. Harvest Group Wealth Management LLC bought a new position in shares of NVIDIA in the 1st quarter worth approximately $30,000. Field & Main Bank bought a new position in shares of NVIDIA in the 2nd quarter worth approximately $33,000. Sound Income Strategies LLC raised its position in shares of NVIDIA by 96.2% in the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of NVIDIA by 181.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after acquiring an additional 125 shares in the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on NVDA. UBS Group decreased their target price on NVIDIA from $210.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Barclays reduced their price objective on NVIDIA from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday. Wedbush initiated coverage on NVIDIA in a research report on Wednesday, June 26th. They set an “outperform” rating and a $184.00 price objective for the company. Cascend Securities raised NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, July 11th. Finally, Morgan Stanley raised their price objective on NVIDIA from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $193.04.
In other news, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $166.80, for a total value of $417,000.00. Following the transaction, the director now directly owns 20,684 shares in the company, valued at approximately $3,450,091.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the transaction, the director now owns 32,983 shares in the company, valued at $4,785,833.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,736 shares of company stock worth $15,293,726. Company insiders own 4.64% of the company’s stock.
NVDA traded up $10.79 during trading on Friday, hitting $159.56. 25,199,000 shares of the company’s stock traded hands, compared to its average volume of 9,206,392. The company’s 50 day simple moving average is $163.66 and its two-hundred day simple moving average is $163.39. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. NVIDIA Co. has a 12-month low of $124.46 and a 12-month high of $292.76. The stock has a market capitalization of $90.60 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.81 and a beta of 2.07.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, beating the consensus estimate of $0.87 by $0.37. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.93% and a net margin of 26.93%. The company’s revenue was down 17.4% compared to the same quarter last year. During the same period last year, the business posted $1.94 EPS. On average, equities analysts expect that NVIDIA Co. will post 4.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. NVIDIA’s dividend payout ratio (DPR) is currently 10.54%.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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