NVIDIA Corporation (NVDA) Shares Bought by Salem Investment Counselors Inc.
Salem Investment Counselors Inc. lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 3,507.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,803 shares of the computer hardware maker’s stock after buying an additional 8,559 shares during the period. Salem Investment Counselors Inc.’s holdings in NVIDIA were worth $1,567,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Welch Investments LLC purchased a new position in NVIDIA in the third quarter valued at approximately $104,000. Evercore Wealth Management LLC lifted its stake in NVIDIA by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in NVIDIA by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares during the last quarter. Edge Advisors LLC lifted its stake in NVIDIA by 98.8% in the third quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $149,000 after purchasing an additional 415 shares during the last quarter. Finally, Hanson McClain Inc. lifted its stake in NVIDIA by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 63.51% of the company’s stock.
Several equities analysts recently commented on NVDA shares. Raymond James Financial upped their price objective on NVIDIA and gave the company an “outperform” rating in a research note on Friday, November 10th. Bank of America set a $210.00 price objective on NVIDIA and gave the company a “buy” rating in a research note on Thursday, October 12th. Canaccord Genuity reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Friday, September 8th. Royal Bank of Canada upped their price objective on NVIDIA from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Goldman Sachs Group upped their price objective on NVIDIA from $193.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $187.38.
NVIDIA Corporation (NVDA) opened at $186.18 on Thursday. The firm has a market cap of $115,649.04, a price-to-earnings ratio of 47.01, a PEG ratio of 4.44 and a beta of 1.18. NVIDIA Corporation has a 1-year low of $91.57 and a 1-year high of $218.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s quarterly revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. research analysts expect that NVIDIA Corporation will post 4.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s dividend payout ratio is presently 14.89%.
In related news, Director A Brooke Seawell sold 1,029 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $214.10, for a total value of $220,308.90. Following the transaction, the director now owns 1,029 shares of the company’s stock, valued at $220,308.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawn E. Hudson sold 3,052 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $214.39, for a total value of $654,318.28. Following the completion of the transaction, the director now directly owns 28,816 shares in the company, valued at approximately $6,177,862.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 315,175 shares of company stock worth $59,428,079. Insiders own 5.82% of the company’s stock.
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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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