Bay Harbor Wealth Management LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,537 shares of the computer hardware maker’s stock after selling 83 shares during the period. Bay Harbor Wealth Management LLC’s holdings in NVIDIA were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sonora Investment Management LLC raised its holdings in NVIDIA by 12.6% in the 3rd quarter. Sonora Investment Management LLC now owns 1,051 shares of the computer hardware maker’s stock valued at $183,000 after acquiring an additional 118 shares during the last quarter. Beacon Financial Group raised its holdings in NVIDIA by 3.1% in the 3rd quarter. Beacon Financial Group now owns 2,811 shares of the computer hardware maker’s stock valued at $483,000 after acquiring an additional 84 shares during the last quarter. Smithbridge Asset Management Inc. DE acquired a new stake in NVIDIA in the 3rd quarter valued at about $336,000. Roman Butler Fullerton & Co. raised its holdings in NVIDIA by 25.7% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 5,066 shares of the computer hardware maker’s stock valued at $882,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in NVIDIA by 7.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 8,443 shares of the computer hardware maker’s stock valued at $1,470,000 after acquiring an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 64.40% of the company’s stock.
Shares of NASDAQ:NVDA traded up $10.66 during mid-day trading on Tuesday, reaching $197.19. 13,831,589 shares of the company were exchanged, compared to its average volume of 8,053,501. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The firm has a market cap of $120.16 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 4.78 and a beta of 2.05. The firm’s 50-day simple moving average is $176.10 and its 200 day simple moving average is $168.00. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $249.88.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.32%. NVIDIA’s payout ratio is currently 10.54%.
In related news, CFO Colette Kress sold 31,357 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $179.01, for a total transaction of $5,613,216.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the transaction, the director now directly owns 36,037 shares of the company’s stock, valued at approximately $6,188,634.01. The disclosure for this sale can be found here. Insiders have sold a total of 66,383 shares of company stock valued at $11,625,217 in the last ninety days. 4.64% of the stock is currently owned by corporate insiders.
A number of analysts have commented on NVDA shares. Mizuho reiterated a “buy” rating and issued a $185.00 price objective (down previously from $192.00) on shares of NVIDIA in a report on Friday, August 16th. Goldman Sachs Group increased their price objective on shares of NVIDIA from $179.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. FBN Securities set a $190.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. ValuEngine upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Cascend Securities increased their price objective on shares of NVIDIA from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the stock. NVIDIA currently has an average rating of “Buy” and an average target price of $186.02.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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