United Capital Financial Advisers LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,589 shares of the computer hardware maker’s stock after buying an additional 3,618 shares during the quarter. United Capital Financial Advisers LLC’s holdings in NVIDIA were worth $9,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia raised its holdings in shares of NVIDIA by 15.6% during the second quarter. Bank of Nova Scotia now owns 153,583 shares of the computer hardware maker’s stock valued at $23,810,000 after acquiring an additional 20,771 shares in the last quarter. AlphaOne Investment Services LLC bought a new position in shares of NVIDIA during the second quarter valued at approximately $2,434,000. Scotia Capital Inc. raised its holdings in shares of NVIDIA by 8.6% during the second quarter. Scotia Capital Inc. now owns 42,596 shares of the computer hardware maker’s stock valued at $6,996,000 after acquiring an additional 3,373 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of NVIDIA by 16.9% during the second quarter. APG Asset Management N.V. now owns 354,667 shares of the computer hardware maker’s stock valued at $51,148,000 after acquiring an additional 51,200 shares in the last quarter. Finally, BSW Wealth Partners bought a new position in shares of NVIDIA during the second quarter valued at approximately $246,000. 64.51% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on NVDA shares. Craig Hallum restated a “hold” rating and set a $170.00 target price (up previously from $165.00) on shares of NVIDIA in a report on Friday, August 16th. BidaskClub upgraded NVIDIA from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Needham & Company LLC restated a “sell” rating on shares of NVIDIA in a report on Friday, August 16th. Wedbush set a $184.00 target price on NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. set a $200.00 price objective on NVIDIA and gave the stock a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have given a buy rating to the company. NVIDIA has an average rating of “Buy” and a consensus price target of $190.40.
Shares of NVIDIA stock traded down $2.33 during trading on Friday, hitting $181.94. 7,467,510 shares of the company’s stock traded hands, compared to its average volume of 10,211,458. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76. The stock has a market capitalization of $112.22 billion, a P/E ratio of 29.97, a PEG ratio of 4.72 and a beta of 2.07. The business has a 50-day simple moving average of $166.12 and a 200-day simple moving average of $165.69.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm posted $1.94 earnings per share. NVIDIA’s revenue was down 17.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 4.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 annualized dividend and a yield of 0.35%. NVIDIA’s payout ratio is 10.54%.
In other NVIDIA news, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $164.01, for a total value of $366,726.36. Following the transaction, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated 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 directly owns 32,983 shares in the company, valued at $4,785,833.30. The disclosure for this sale can be found here. Insiders sold 139,597 shares of company stock worth $21,275,952 over the last three months. Insiders own 4.64% of the company’s stock.
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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