Dorsey Wright & Associates Sells 18,022 Shares of NVIDIA Corporation (NVDA)
Dorsey Wright & Associates trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 26.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,649 shares of the computer hardware maker’s stock after selling 18,022 shares during the quarter. NVIDIA Corporation accounts for 2.1% of Dorsey Wright & Associates’ holdings, making the stock its 5th biggest position. Dorsey Wright & Associates’ holdings in NVIDIA Corporation were worth $9,055,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in NVIDIA Corporation by 12.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,505,408 shares of the computer hardware maker’s stock worth $269,122,000 after purchasing an additional 162,803 shares in the last quarter. Intrust Bank NA bought a new stake in NVIDIA Corporation during the 3rd quarter worth approximately $280,000. Retirement Systems of Alabama increased its stake in NVIDIA Corporation by 0.9% during the 3rd quarter. Retirement Systems of Alabama now owns 291,092 shares of the computer hardware maker’s stock worth $52,039,000 after purchasing an additional 2,603 shares in the last quarter. Strategic Financial Services Inc bought a new stake in NVIDIA Corporation during the 3rd quarter worth approximately $278,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in NVIDIA Corporation by 200.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 54,343 shares of the computer hardware maker’s stock worth $9,577,000 after purchasing an additional 36,256 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on NVDA shares. Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target for the company. in a research note on Thursday, August 31st. Credit Suisse Group reaffirmed an “outperform” rating on shares of NVIDIA Corporation in a research note on Thursday, August 31st. Goldman Sachs Group, Inc. (The) raised their price target on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. B. Riley raised their price target on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA Corporation in a research note on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA Corporation presently has a consensus rating of “Buy” and an average price target of $185.41.
In other news, 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 completion of the sale, the insider now owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Brooke Seawell sold 30,000 shares of NVIDIA Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the sale, the director now directly owns 16,507 shares of the company’s stock, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. Insiders have sold a total of 436,503 shares of company stock valued at $78,796,295 in the last ninety days. Insiders own 5.17% of the company’s stock.
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Shares of NVIDIA Corporation (NASDAQ:NVDA) traded down $2.31 during trading on Monday, reaching $213.83. The company’s stock had a trading volume of 11,354,552 shares, compared to its average volume of 17,773,291. NVIDIA Corporation has a fifty-two week low of $78.50 and a fifty-two week high of $218.67. The firm has a market cap of $127,860.00, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 5.34 and a beta of 1.23. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s quarterly revenue was up 31.5% on a year-over-year basis. sell-side analysts expect that NVIDIA Corporation will post 3.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a yield of 0.28%. NVIDIA Corporation’s dividend payout ratio (DPR) is currently 14.00%.
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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