Chemical Bank Invests $598,000 in NVIDIA Corporation (NVDA) Stock
Chemical Bank purchased a new position in NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,136 shares of the computer hardware maker’s stock, valued at approximately $598,000.
A number of other institutional investors have also modified their holdings of the business. Roosevelt Investment Group Inc. raised its position in NVIDIA Corporation by 44.8% in the second quarter. Roosevelt Investment Group Inc. now owns 18,548 shares of the computer hardware maker’s stock worth $2,681,000 after acquiring an additional 5,735 shares in the last quarter. Crawford Lake Capital Management LLC acquired a new stake in NVIDIA Corporation during the 2nd quarter worth about $11,366,000. Seven Eight Capital LP acquired a new stake in NVIDIA Corporation during the 2nd quarter worth about $505,000. Fiera Capital Corp raised its holdings in NVIDIA Corporation by 280.0% during the 2nd quarter. Fiera Capital Corp now owns 83,301 shares of the computer hardware maker’s stock worth $12,042,000 after buying an additional 61,377 shares during the period. Finally, Stephens Inc. AR raised its holdings in NVIDIA Corporation by 8.4% during the 2nd quarter. Stephens Inc. AR now owns 3,070 shares of the computer hardware maker’s stock worth $444,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 65.85% of the company’s stock.
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Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 174.76 on Friday. NVIDIA Corporation has a 12 month low of $62.12 and a 12 month high of $174.80. The company’s 50-day moving average price is $165.78 and its 200-day moving average price is $136.43. The company has a market cap of $104.86 billion, a price-to-earnings ratio of 50.26 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. Analysts anticipate that NVIDIA Corporation will post $3.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.33%. NVIDIA Corporation’s payout ratio is 15.86%.
In other NVIDIA Corporation news, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $158.08, for a total transaction of $7,904,000.00. Following the sale, the director now owns 14,350 shares in the company, valued at $2,268,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the sale, the insider now owns 136,199 shares in the company, valued at approximately $23,291,390.99. The disclosure for this sale can be found here. Insiders have sold 502,210 shares of company stock worth $79,743,664 in the last 90 days. Company insiders own 5.82% of the company’s stock.
Several equities analysts have weighed in on NVDA shares. Mizuho reaffirmed a “buy” rating and set a $180.00 target price (up previously from $170.00) on shares of NVIDIA Corporation in a research note on Friday, August 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $140.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, August 16th. Bank of America Corporation reaffirmed a “buy” rating and set a $185.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, June 21st. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 target price for the company. in a research report on Thursday, August 31st. Finally, Zacks Investment Research raised NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 target price for the company in a research report on Tuesday, July 11th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. NVIDIA Corporation has an average rating of “Hold” and an average price target of $149.13.
NVIDIA Corporation Company Profile
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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