NVIDIA Corporation (NVDA) Sees Large Drop in Short Interest
NVIDIA Corporation (NASDAQ:NVDA) saw a significant decrease in short interest during the month of December. As of December 30th, there was short interest totalling 54,891,218 shares, a decrease of 23.2% from the December 15th total of 71,428,975 shares. Approximately 10.8% of the company’s stock are sold short. Based on an average daily volume of 28,756,771 shares, the short-interest ratio is currently 1.9 days.
In other news, Director A Brooke Seawell sold 35,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $87.74, for a total value of $3,070,900.00. Following the completion of the sale, the director now owns 41,213 shares in the company, valued at $3,616,028.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William J. Miller sold 10,000 shares of the stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $98.74, for a total transaction of $987,400.00. Following the completion of the sale, the director now owns 40,912 shares of the company’s stock, valued at approximately $4,039,650.88. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Washington Trust Bank raised its stake in shares of NVIDIA Corporation by 0.8% in the third quarter. Washington Trust Bank now owns 6,753 shares of the computer hardware maker’s stock worth $463,000 after buying an additional 54 shares during the last quarter. IFC Holdings Incorporated FL raised its stake in shares of NVIDIA Corporation by 0.9% in the third quarter. IFC Holdings Incorporated FL now owns 8,719 shares of the computer hardware maker’s stock worth $596,000 after buying an additional 80 shares during the last quarter. Atlantic Trust Group LLC raised its stake in shares of NVIDIA Corporation by 0.3% in the second quarter. Atlantic Trust Group LLC now owns 27,441 shares of the computer hardware maker’s stock worth $1,289,000 after buying an additional 81 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of NVIDIA Corporation by 2.4% in the third quarter. Koshinski Asset Management Inc. now owns 5,234 shares of the computer hardware maker’s stock worth $359,000 after buying an additional 122 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of NVIDIA Corporation by 0.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 13,743 shares of the computer hardware maker’s stock worth $942,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
NVIDIA Corporation (NASDAQ:NVDA) opened at 103.43 on Friday. The company has a 50-day moving average of $98.52 and a 200-day moving average of $70.73. NVIDIA Corporation has a 52 week low of $24.75 and a 52 week high of $119.93. The company has a market cap of $55.75 billion, a PE ratio of 52.85 and a beta of 1.31.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.37. NVIDIA Corporation had a net margin of 19.52% and a return on equity of 26.82%. The business earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Corporation will post $2.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Monday, November 28th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, November 23rd. NVIDIA Corporation’s payout ratio is presently 29.32%.
NVDA has been the subject of several analyst reports. B. Riley reiterated a “buy” rating and issued a $73.00 target price on shares of NVIDIA Corporation in a report on Sunday, September 18th. SunTrust Banks, Inc. initiated coverage on shares of NVIDIA Corporation in a report on Monday, September 19th. They issued a “neutral” rating and a $59.00 target price for the company. Susquehanna initiated coverage on shares of NVIDIA Corporation in a report on Tuesday, September 20th. They issued a “neutral” rating and a $66.00 target price for the company. Vetr downgraded shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $69.67 target price for the company. in a report on Thursday, September 29th. Finally, Wells Fargo & Company reiterated an “underperform” rating on shares of NVIDIA Corporation in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. NVIDIA Corporation presently has a consensus rating of “Buy” and a consensus target price of $82.88.
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NVIDIA Corporation 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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