Traders Sell NVIDIA Corporation (NVDA) on Strength (NVDA)
Traders sold shares of NVIDIA Corporation (NASDAQ:NVDA) on strength during trading on Wednesday. $619.10 million flowed into the stock on the tick-up and $647.73 million flowed out of the stock on the tick-down, for a money net flow of $28.63 million out of the stock. Of all companies tracked, NVIDIA Corporation had the 0th highest net out-flow for the day. NVIDIA Corporation traded up $0.76 for the day and closed at $170.37
NVDA has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $171.00 target price (up from $165.00) on shares of NVIDIA Corporation in a research note on Wednesday, June 14th. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 target price on the stock. in a research note on Thursday, August 31st. Zacks Investment Research raised NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 target price on the stock in a research note on Tuesday, July 11th. Credit Suisse Group reissued an “outperform” rating on shares of NVIDIA Corporation in a research note on Thursday, August 31st. Finally, BidaskClub raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $145.52.
The firm’s 50 day moving average price is $165.78 and its 200 day moving average price is $136.43. The company has a market capitalization of $101.63 billion, a price-to-earnings ratio of 48.71 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Equities research analysts predict that NVIDIA Corporation will post $3.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
In related news, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $158.08, for a total transaction of $7,904,000.00. Following the completion of the transaction, the director now owns 14,350 shares of the company’s stock, valued at $2,268,448. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jen Hsun Huang sold 110,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 502,210 shares of company stock valued at $79,743,664. Corporate insiders own 5.82% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. purchased a new position in shares of NVIDIA Corporation during the second quarter worth $254,000. Achmea Investment Management B.V. raised its holdings in shares of NVIDIA Corporation by 3.9% during the second quarter. Achmea Investment Management B.V. now owns 25,357 shares of the computer hardware maker’s stock worth $3,663,000 after purchasing an additional 941 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of NVIDIA Corporation during the second quarter worth $28,543,000. Sentry Investment Management LLC raised its holdings in shares of NVIDIA Corporation by 66.0% during the second quarter. Sentry Investment Management LLC now owns 46,589 shares of the computer hardware maker’s stock worth $6,735,000 after purchasing an additional 18,518 shares during the last quarter. Finally, Atlantic Trust LLC raised its holdings in shares of NVIDIA Corporation by 2,103.3% during the second quarter. Atlantic Trust LLC now owns 11,193 shares of the computer hardware maker’s stock worth $1,618,000 after purchasing an additional 10,685 shares during the last quarter. 65.85% of the stock is owned by hedge funds and other institutional investors.
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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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