Private Advisory Group LLC Buys New Stake in NVIDIA Corporation (NVDA)
Private Advisory Group LLC bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,615 shares of the computer hardware maker’s stock, valued at approximately $378,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cibc World Markets Corp raised its position in NVIDIA Corporation by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after acquiring an additional 13,802 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after acquiring an additional 1,000 shares during the last quarter. RB Capital Management LLC acquired a new position in NVIDIA Corporation during the second quarter worth about $272,000. Oppenheimer Asset Management Inc. raised its position in NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after acquiring an additional 2,836 shares during the last quarter. Finally, D. Scott Neal Inc. acquired a new position in NVIDIA Corporation during the second quarter worth about $258,000. Institutional investors own 65.79% of the company’s stock.
A number of equities analysts have issued reports on the stock. B. Riley restated a “buy” rating and set a $200.00 target price on shares of NVIDIA Corporation in a research report on Sunday, August 13th. Stifel Nicolaus restated a “hold” rating and set a $110.00 target price on shares of NVIDIA Corporation in a research report on Friday, August 11th. Instinet restated a “reduce” rating and set a $110.00 target price (up previously from $90.00) on shares of NVIDIA Corporation in a research report on Monday, August 14th. Vetr cut shares of NVIDIA Corporation from a “strong-buy” rating to a “hold” rating and set a $173.32 target price for the company. in a research report on Tuesday, August 15th. Finally, Barclays PLC restated an “equal weight” rating and set a $200.00 target price (up previously from $140.00) on shares of NVIDIA Corporation in a research report on Wednesday, October 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. NVIDIA Corporation currently has a consensus rating of “Hold” and an average price target of $155.31.
In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction on Monday, September 18th. The shares were sold at an average price of $189.62, for a total transaction of $9,481,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction 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 396,478 shares of company stock worth $70,872,012 in the last quarter. Corporate insiders own 5.17% of the company’s stock.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 2.52% during mid-day trading on Monday, hitting $185.87. 8,745,988 shares of the company’s stock were exchanged. The company has a market capitalization of $111.52 billion, a price-to-earnings ratio of 53.46 and a beta of 1.28. NVIDIA Corporation has a 52 week low of $63.70 and a 52 week high of $191.20. The firm has a 50 day moving average price of $172.25 and a 200-day moving average price of $145.37.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 56.2% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Corporation will post $3.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.31%. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
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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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