CAPROCK Group Inc. Cuts Holdings in NVIDIA Co. (NVDA)
CAPROCK Group Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,707 shares of the computer hardware maker’s stock after selling 747 shares during the quarter. CAPROCK Group Inc.’s holdings in NVIDIA were worth $2,166,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in NVDA. Millennium Management LLC increased its position in NVIDIA by 8,286.6% in the 1st quarter. Millennium Management LLC now owns 212,265 shares of the computer hardware maker’s stock valued at $49,158,000 after acquiring an additional 209,734 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in NVIDIA in the 1st quarter valued at approximately $324,000. Gables Capital Management Inc. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $880,000. Xact Kapitalforvaltning AB increased its position in NVIDIA by 5.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 117,021 shares of the computer hardware maker’s stock valued at $27,101,000 after acquiring an additional 5,804 shares during the period. Finally, Moors & Cabot Inc. increased its position in NVIDIA by 57.0% in the 1st quarter. Moors & Cabot Inc. now owns 9,527 shares of the computer hardware maker’s stock valued at $2,206,000 after acquiring an additional 3,458 shares during the period. 65.69% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on NVDA shares. Argus restated a “buy” rating and issued a $300.00 target price on shares of NVIDIA in a research report on Friday, October 12th. Evercore ISI increased their price target on NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, October 5th. BidaskClub lowered NVIDIA from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $310.00 price target (up from $280.00) on shares of NVIDIA in a research note on Thursday, September 20th. Ten analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $293.09.
Shares of NVDA traded up $0.81 during trading hours on Wednesday, hitting $246.64. 64,570 shares of the company were exchanged, compared to its average volume of 12,710,616. The firm has a market cap of $170.86 billion, a PE ratio of 52.64, a P/E/G ratio of 3.68 and a beta of 1.64. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23. NVIDIA Co. has a one year low of $180.58 and a one year high of $292.76.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.28. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The company’s revenue was up 40.0% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Thursday, August 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, August 29th. NVIDIA’s dividend payout ratio is presently 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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