ProShare Advisors LLC Has $38.87 Million Stake in NVIDIA Corporation (NVDA)
ProShare Advisors LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 19.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 268,848 shares of the computer hardware maker’s stock after buying an additional 44,028 shares during the period. ProShare Advisors LLC’s holdings in NVIDIA Corporation were worth $38,865,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of NVDA. Wellington Management Group LLP grew its position in shares of NVIDIA Corporation by 499.0% in the 1st quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares during the last quarter. Vanguard Group Inc. grew its position in shares of NVIDIA Corporation by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock worth $4,093,612,000 after buying an additional 2,597,209 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of NVIDIA Corporation by 46.6% in the 1st quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of NVIDIA Corporation in the 1st quarter worth approximately $126,231,000. Finally, WINTON GROUP Ltd grew its position in shares of NVIDIA Corporation by 290.5% in the 1st quarter. WINTON GROUP Ltd now owns 1,552,770 shares of the computer hardware maker’s stock worth $106,396,000 after buying an additional 1,155,115 shares during the last quarter. 65.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on NVDA shares. Mizuho reaffirmed a “buy” rating and issued a $180.00 price objective (up previously from $170.00) on shares of NVIDIA Corporation in a research report on Friday, August 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of NVIDIA Corporation in a research report on Wednesday, August 16th. Bank of America Corporation reaffirmed a “buy” rating and issued a $185.00 price objective on shares of NVIDIA Corporation in a research report on Wednesday, June 21st. Vetr downgraded shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 target price on the stock. in a research report on Thursday, August 31st. Finally, Zacks Investment Research raised shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 target price on the stock in a research report on Tuesday, July 11th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $149.13.
In other news, insider Jen Hsun Huang sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $158.08, for a total value of $7,904,000.00. Following the completion of the transaction, the director now directly owns 14,350 shares in the company, valued at approximately $2,268,448. 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 quarter. 5.82% of the stock is currently owned by corporate insiders.
Shares of NVIDIA Corporation (NVDA) traded up 6.32% during midday trading on Friday, reaching $180.11. The company had a trading volume of 34,119,764 shares. The company’s 50-day moving average is $166.30 and its 200-day moving average is $136.97. The firm has a market cap of $108.07 billion, a P/E ratio of 51.80 and a beta of 1.25. NVIDIA Corporation has a 52-week low of $62.74 and a 52-week high of $180.11.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that NVIDIA Corporation will post $3.61 EPS for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.31%. NVIDIA Corporation’s payout ratio is presently 15.86%.
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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