NVIDIA (NVDA) Shares Gap Up on Strong Earnings
NVIDIA Co. (NASDAQ:NVDA) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $196.79, but opened at $217.52. NVIDIA shares last traded at $232.08, with a volume of 41818734 shares changing hands.
The computer hardware maker reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.56. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, February 22nd. NVIDIA’s payout ratio is 15.00%.
In other NVIDIA news, Director Dawn E. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the sale, the director now directly owns 46,868 shares in the company, valued at $10,003,505.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director A Brooke Seawell sold 1,029 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $214.10, for a total transaction of $220,308.90. Following the sale, the director now owns 1,029 shares of the company’s stock, valued at $220,308.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,858 shares of company stock valued at $4,227,384. 5.82% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of NVIDIA by 160.9% in the third quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock valued at $35,001,000 after purchasing an additional 120,734 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of NVIDIA by 1.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 829,595 shares of the computer hardware maker’s stock valued at $148,307,000 after purchasing an additional 9,565 shares during the period. KCS Wealth Advisory purchased a new position in shares of NVIDIA in the fourth quarter valued at $282,000. Schwab Charles Investment Management Inc. boosted its stake in shares of NVIDIA by 3.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,932,495 shares of the computer hardware maker’s stock valued at $345,473,000 after purchasing an additional 71,458 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of NVIDIA by 45.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 27,391 shares of the computer hardware maker’s stock valued at $4,897,000 after purchasing an additional 8,605 shares during the period. Institutional investors own 62.84% of the company’s stock.
The company has a market cap of $140,640.00, a P/E ratio of 58.02, a price-to-earnings-growth ratio of 4.77 and a beta of 1.43. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.
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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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