Nvidia Corp. (NVDA) Shares Sold by First Business Financial Services Inc.
First Business Financial Services Inc. lowered its stake in Nvidia Corp. (NASDAQ:NVDA) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 11,969 shares of the computer hardware maker’s stock after selling 824 shares during the period. Nvidia Corp. comprises approximately 0.1% of First Business Financial Services Inc.’s investment portfolio, making the stock its 18th largest position. First Business Financial Services Inc.’s holdings in Nvidia Corp. were worth $563,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in NVDA. Aviance Capital Management LLC bought a new position in shares of Nvidia Corp. during the second quarter valued at about $200,000. Raymond James Trust N.A. bought a new position in shares of Nvidia Corp. during the second quarter valued at about $224,000. Cim LLC bought a new position in shares of Nvidia Corp. during the second quarter valued at about $232,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Nvidia Corp. by 920.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,100 shares of the computer hardware maker’s stock valued at $240,000 after buying an additional 4,600 shares during the last quarter. Finally, Hollencrest Securities LLC bought a new position in shares of Nvidia Corp. during the second quarter valued at about $245,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 0.2520% during trading on Wednesday, hitting $68.1279. 5,258,850 shares of the stock traded hands. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $69.70. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 44.7621 and a beta of 1.25. The firm’s 50-day moving average price is $63.30 and its 200-day moving average price is $49.53.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The company’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities research analysts anticipate that Nvidia Corp. will post $1.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.67%. Nvidia Corp.’s payout ratio is currently 30.26%.
NVDA has been the subject of several research analyst reports. Jefferies Group upped their target price on shares of Nvidia Corp. from $56.00 to $69.00 and gave the company a “buy” rating in a report on Monday, August 8th. RBC Capital Markets reiterated an “outperform” rating and set a $72.00 price target on shares of Nvidia Corp. in a research note on Wednesday, August 31st. B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of Nvidia Corp. in a research note on Monday, July 11th. Goldman Sachs Group Inc. increased their price target on shares of Nvidia Corp. to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $59.00 price target on shares of Nvidia Corp. in a research note on Friday, August 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the stock. Nvidia Corp. currently has an average rating of “Hold” and a consensus target price of $58.60.
In other news, Director Tench Coxe sold 85,551 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.75, for a total value of $5,881,631.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark L. Perry sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $52.93, for a total value of $1,852,550.00. Following the completion of the sale, the director now directly owns 97,292 shares of the company’s stock, valued at $5,149,665.56. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Nvidia Corp. Company Profile
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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