B. Riley Financial Inc. Invests $269,000 in NVIDIA Co. (NVDA) Stock
B. Riley Financial Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,064 shares of the computer hardware maker’s stock, valued at approximately $269,000.
A number of other institutional investors have also recently made changes to their positions in NVDA. Advisors Asset Management Inc. increased its holdings in shares of NVIDIA by 375.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 94,836 shares of the computer hardware maker’s stock valued at $6,396,000 after purchasing an additional 74,876 shares in the last quarter. Davy Asset Management Ltd purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $763,000. Argent Trust Co purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $327,000. Bruderman Asset Management LLC increased its holdings in shares of NVIDIA by 42.8% in the 2nd quarter. Bruderman Asset Management LLC now owns 784 shares of the computer hardware maker’s stock valued at $186,000 after purchasing an additional 235 shares in the last quarter. Finally, Family Management Corp purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $2,005,000. Institutional investors own 65.64% of the company’s stock.
In other NVIDIA news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the sale, the director now directly owns 31,725 shares of the company’s stock, valued at approximately $7,680,939.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 889 shares of the firm’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The disclosure for this sale can be found here. Insiders have sold a total of 100,932 shares of company stock worth $24,452,088 over the last ninety days. 4.70% of the stock is owned by corporate insiders.
Shares of NASDAQ NVDA opened at $271.02 on Wednesday. The stock has a market capitalization of $168.07 billion, a P/E ratio of 58.03, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62. NVIDIA Co. has a 52 week low of $170.16 and a 52 week high of $285.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. equities research analysts expect that NVIDIA Co. will post 7.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, August 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. NVIDIA’s dividend payout ratio is currently 12.85%.
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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