Advisors Asset Management Inc. Has $113,000 Stake in Nvidia Corp. (NVDA)
Advisors Asset Management Inc. held its position in shares of Nvidia Corp. (NASDAQ:NVDA) during the second quarter, Holdings Channel reports. The firm owned 2,400 shares of the computer hardware maker’s stock at the end of the second quarter. Advisors Asset Management Inc.’s holdings in Nvidia Corp. were worth $113,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Brick & Kyle Associates boosted its position in shares of Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares in the last quarter. Aviance Capital Management LLC purchased a new position in shares of Nvidia Corp. during the second quarter valued at $200,000. Broderick Brian C purchased a new position in shares of Nvidia Corp. during the second quarter valued at $209,000. Raymond James Trust N.A. purchased a new position in shares of Nvidia Corp. during the second quarter valued at $224,000. Finally, Cim LLC purchased a new position in shares of Nvidia Corp. during the second quarter valued at $232,000. 86.37% of the stock is owned by institutional investors and hedge funds.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 0.73% during midday trading on Friday, hitting $66.85. The company had a trading volume of 7,156,502 shares. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 43.92 and a beta of 1.25. The stock’s 50-day moving average price is $63.78 and its 200-day moving average price is $50.03. Nvidia Corp. has a one year low of $24.75 and a one year high of $69.70.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. Analysts predict that Nvidia Corp. will post $1.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
Several research analysts recently weighed in on NVDA shares. Zacks Investment Research raised Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, June 28th. Vetr upgraded Nvidia Corp. from a “hold” rating to a “buy” rating and set a $47.09 price target for the company in a research report on Monday, June 27th. B. Riley reiterated a “buy” rating and issued a $58.00 price target on shares of Nvidia Corp. in a research report on Wednesday, June 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $55.00 price target (up previously from $45.00) on shares of Nvidia Corp. in a research report on Thursday, June 16th. Finally, MKM Partners reiterated a “buy” rating and issued a $52.00 price target (up previously from $43.00) on shares of Nvidia Corp. in a research report on Monday, June 13th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Nvidia Corp. has an average rating of “Hold” and an average price target of $58.60.
In other Nvidia Corp. news, Director A Brooke Seawell sold 30,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. Following the sale, the director now owns 6,213 shares of the company’s stock, valued at approximately $388,436.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 37,804 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $68.60, for a total value of $2,593,354.40. Following the completion of the sale, the chief financial officer now directly owns 444,812 shares in the company, valued at approximately $30,514,103.20. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
About Nvidia Corp.
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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