Almanack Investment Partners LLC. Buys New Holdings in NVIDIA Co. (NVDA)
Almanack Investment Partners LLC. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 534 shares of the computer hardware maker’s stock, valued at approximately $127,000.
Several other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of NVIDIA by 3.5% in the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock valued at $11,512,019,000 after purchasing an additional 1,656,748 shares during the period. BlackRock Inc. increased its holdings in shares of NVIDIA by 1.2% in the second quarter. BlackRock Inc. now owns 38,562,828 shares of the computer hardware maker’s stock valued at $9,135,533,000 after purchasing an additional 454,434 shares during the period. Jennison Associates LLC increased its holdings in shares of NVIDIA by 18.8% in the second quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock valued at $1,847,847,000 after purchasing an additional 1,234,191 shares during the period. Edgewood Management LLC increased its holdings in shares of NVIDIA by 2.5% in the second quarter. Edgewood Management LLC now owns 5,021,345 shares of the computer hardware maker’s stock valued at $1,189,557,000 after purchasing an additional 123,650 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of NVIDIA by 63.7% in the second quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock valued at $1,000,199,000 after purchasing an additional 1,643,689 shares during the period. 65.68% of the stock is currently owned by institutional investors and hedge funds.
NVDA opened at $268.20 on Thursday. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The firm has a market cap of $165.29 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 3.56 and a beta of 1.62. NVIDIA Co. has a one year low of $167.28 and a one year high of $285.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, August 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.22%. NVIDIA’s payout ratio is 12.85%.
In other NVIDIA news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total value of $24,211,000.00. Following the sale, the director now owns 31,725 shares in the company, valued at $7,680,939.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,932 shares of company stock worth $24,452,088. 4.70% of the stock is owned by company insiders.
A number of research firms recently weighed in on NVDA. Zacks Investment Research downgraded NVIDIA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. FBN Securities began coverage on NVIDIA in a research note on Tuesday, June 26th. They issued an “outperform” rating and a $300.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of NVIDIA in a research note on Friday, August 17th. Cowen decreased their price target on NVIDIA from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Finally, BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $281.58.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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