KMG Fiduciary Partners LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,018 shares of the computer hardware maker’s stock after purchasing an additional 3,071 shares during the period. NVIDIA comprises about 1.0% of KMG Fiduciary Partners LLC’s investment portfolio, making the stock its 29th largest position. KMG Fiduciary Partners LLC’s holdings in NVIDIA were worth $5,308,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in NVDA. Vanguard Group Inc. grew its holdings in NVIDIA by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock worth $54,152,363,000 after acquiring an additional 2,446,529 shares in the last quarter. BlackRock Inc. grew its holdings in NVIDIA by 2.1% during the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock worth $52,304,441,000 after acquiring an additional 3,591,440 shares in the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at about $6,279,217,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of NVIDIA by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock valued at $3,347,921,000 after buying an additional 243,671 shares in the last quarter. Finally, Edgewood Management LLC boosted its holdings in shares of NVIDIA by 8.6% in the 1st quarter. Edgewood Management LLC now owns 12,195,984 shares of the computer hardware maker’s stock valued at $3,327,796,000 after buying an additional 964,349 shares in the last quarter. 62.58% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. StockNews.com cut shares of NVIDIA from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Raymond James lowered their price target on shares of NVIDIA from $240.00 to $210.00 in a report on Thursday, August 25th. Cowen lowered their price target on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Susquehanna Bancshares lowered their price target on shares of NVIDIA from $200.00 to $190.00 and set a “positive” rating on the stock in a report on Wednesday. Finally, Craig Hallum lowered their price target on shares of NVIDIA from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the prior year, the business posted $0.89 EPS. NVIDIA’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.49 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.13%. NVIDIA’s dividend payout ratio is currently 5.25%.
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
- Get a free copy of the StockNews.com research report on NVIDIA (NVDA)
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