Traders Sell Nvidia Corp. (NVDA) on Strength (NVDA)
Investors sold shares of Nvidia Corp. (NASDAQ:NVDA) on strength during trading hours on Monday. $87.69 million flowed into the stock on the tick-up and $143.45 million flowed out of the stock on the tick-down, for a money net flow of $55.76 million out of the stock. Of all equities tracked, Nvidia Corp. had the 0th highest net out-flow for the day. Nvidia Corp. traded up $1.17 for the day and closed at $52.02
NVDA has been the topic of a number of analyst reports. Vetr downgraded shares of Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 price objective on the stock. in a report on Monday. KeyCorp reiterated a “hold” rating on shares of Nvidia Corp. in a research note on Wednesday, July 6th. BMO Capital Markets reiterated a “hold” rating on shares of Nvidia Corp. in a research note on Sunday. Bank of America Corp. reiterated a “buy” rating on shares of Nvidia Corp. in a research note on Monday, March 21st. Finally, Jefferies Group upgraded Nvidia Corp. to a “buy” rating and lifted their target price for the stock from $3.50 to $56.00 in a research note on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.07.
The company has a 50 day moving average price of $46.93 and a 200-day moving average price of $36.50. The company has a market cap of $27.78 billion and a PE ratio of 44.39.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.14. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Nvidia Corp. will post $1.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Thursday, May 26th were paid a $0.115 dividend. The ex-dividend date was Tuesday, May 24th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.88%.
In other news, CEO Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $36.08, for a total value of $1,443,200.00. Following the sale, the chief executive officer now owns 1,817,279 shares in the company, valued at $65,567,426.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Brooke Seawell sold 5,142 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.01, for a total value of $241,725.42. Following the completion of the sale, the director now owns 6,213 shares in the company, valued at approximately $292,073.13. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Nvidia Corp. by 330.8% in the fourth quarter. Teacher Retirement System of Texas now owns 124,145 shares of the computer hardware maker’s stock worth $4,092,000 after buying an additional 95,326 shares during the last quarter. Russell Frank Co increased its stake in shares of Nvidia Corp. by 33.8% in the fourth quarter. Russell Frank Co now owns 274,765 shares of the computer hardware maker’s stock worth $9,175,000 after buying an additional 69,352 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Nvidia Corp. by 67.2% in the fourth quarter. Suntrust Banks Inc. now owns 76,155 shares of the computer hardware maker’s stock worth $2,508,000 after buying an additional 30,615 shares during the last quarter. BP PLC increased its stake in shares of Nvidia Corp. by 100.0% in the fourth quarter. BP PLC now owns 140,000 shares of the computer hardware maker’s stock worth $4,614,000 after buying an additional 70,000 shares during the last quarter. Finally, Cowen Group Inc. increased its stake in shares of Nvidia Corp. by 10.0% in the fourth quarter. Cowen Group Inc. now owns 33,525 shares of the computer hardware maker’s stock worth $1,105,000 after buying an additional 3,050 shares during the last quarter.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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