NVIDIA Corporation (NASDAQ:NVDA) Stake Increased by Wedbush Securities Inc.
Wedbush Securities Inc. increased its position in NVIDIA Corporation (NASDAQ:NVDA) by 10.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,461 shares of the computer hardware maker’s stock after buying an additional 615 shares during the period. Wedbush Securities Inc.’s holdings in NVIDIA Corporation were worth $934,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of NVDA. Quadrant Capital Group LLC boosted its position in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the period. TB Alternative Assets Ltd. bought a new position in shares of NVIDIA Corporation during the second quarter worth about $116,000. Proficio Capital Partners LLC boosted its position in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the period. Coconut Grove Bank boosted its position in shares of NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 1,060 shares during the period. Finally, Founders Capital Management boosted its position in shares of NVIDIA Corporation by 25.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the computer hardware maker’s stock worth $145,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 68.91% of the company’s stock.
Shares of NVIDIA Corporation (NVDA) opened at 155.96 on Friday. The company has a market capitalization of $93.11 billion, a P/E ratio of 44.85 and a beta of 1.24. NVIDIA Corporation has a 52-week low of $57.32 and a 52-week high of $174.56. The stock’s 50 day moving average price is $159.49 and its 200-day moving average price is $127.38. NVIDIA Corporation also was the recipient of unusually large options trading on Thursday. Traders bought 84,606 put options on the company. This is an increase of 147% compared to the typical volume of 34,198 put options.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.99% and a net margin of 27.41%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is currently 15.86%.
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Several equities analysts have recently weighed in on NVDA shares. Vetr upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 price objective on the stock in a report on Thursday, May 4th. Stifel Nicolaus lifted their price objective on NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, May 10th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price objective on shares of NVIDIA Corporation in a report on Friday, May 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA Corporation in a report on Thursday, July 13th. Finally, Zacks Investment Research upgraded NVIDIA Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. NVIDIA Corporation currently has a consensus rating of “Buy” and an average target price of $144.43.
In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $150.29, for a total value of $15,029,000.00. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at $4,623,220.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harvey C. Jones sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $150.84, for a total value of $7,542,000.00. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at $4,640,140.08. The disclosure for this sale can be found here. Insiders sold 572,282 shares of company stock valued at $86,830,082 over the last ninety days. Corporate insiders own 5.82% of the company’s stock.
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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