Rhumbline Advisers Has $139.60 Million Position in NVIDIA Corporation (NVDA)
Rhumbline Advisers cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 965,659 shares of the computer hardware maker’s stock after selling 57,715 shares during the period. Rhumbline Advisers’ holdings in NVIDIA Corporation were worth $139,596,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. DnB Asset Management AS boosted its position in shares of NVIDIA Corporation by 7.4% in the first quarter. DnB Asset Management AS now owns 55,328 shares of the computer hardware maker’s stock valued at $6,027,000 after buying an additional 3,800 shares during the last quarter. Private Wealth Partners LLC increased its stake in shares of NVIDIA Corporation by 604.8% in the first quarter. Private Wealth Partners LLC now owns 41,898 shares of the computer hardware maker’s stock valued at $4,564,000 after buying an additional 35,953 shares during the period. Telemus Capital LLC purchased a new stake in shares of NVIDIA Corporation during the first quarter valued at about $654,000. Harvey Capital Management Inc. purchased a new stake in shares of NVIDIA Corporation during the first quarter valued at about $217,000. Finally, Portland Global Advisors LLC increased its stake in shares of NVIDIA Corporation by 12.8% in the first quarter. Portland Global Advisors LLC now owns 2,650 shares of the computer hardware maker’s stock valued at $289,000 after buying an additional 300 shares during the period. Institutional investors own 68.91% of the company’s stock.
NVIDIA Corporation (NVDA) opened at 155.96 on Friday. The firm has a market cap of $92.80 billion, a price-to-earnings ratio of 52.35 and a beta of 1.24. NVIDIA Corporation has a one year low of $57.32 and a one year high of $174.56. The stock’s 50 day moving average is $159.49 and its 200-day moving average is $127.38. NVIDIA Corporation also saw some unusual options trading activity on Thursday. Stock traders bought 84,606 put options on the stock. This is an increase of approximately 147% compared to the typical daily volume of 34,198 put options.
NVIDIA Corporation (NASDAQ:NVDA) last released its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.99%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
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Several equities research analysts recently issued reports on the stock. Vetr upgraded shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 target price for the company in a research note on Thursday, May 4th. Stifel Nicolaus raised their target price on shares of NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 target price on shares of NVIDIA Corporation in a research note on Friday, May 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. NVIDIA Corporation presently has a consensus rating of “Buy” and a consensus price target of $144.43.
In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Byron sold 25,507 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $137.09, for a total transaction of $3,496,754.63. Following the completion of the sale, the insider now directly owns 162,706 shares in the company, valued at approximately $22,305,365.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 572,282 shares of company stock worth $86,830,082. 5.82% of the stock is owned by insiders.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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