Sand Hill Global Advisors LLC purchased a new position in NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,000 shares of the computer hardware maker’s stock, valued at approximately $723,000.
Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. State of Alaska Department of Revenue bought a new position in shares of NVIDIA Corporation in the first quarter worth $182,000. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of NVIDIA Corporation in the first quarter worth $388,000. State Treasurer State of Michigan increased its position in shares of NVIDIA Corporation by 7.8% in the first quarter. State Treasurer State of Michigan now owns 443,492 shares of the computer hardware maker’s stock worth $48,310,000 after purchasing an additional 32,200 shares during the period. Syntal Capital Partners LLC increased its position in shares of NVIDIA Corporation by 56.6% in the first quarter. Syntal Capital Partners LLC now owns 4,875 shares of the computer hardware maker’s stock worth $531,000 after purchasing an additional 1,761 shares during the period. Finally, Alpha Cubed Investments LLC boosted its stake in NVIDIA Corporation by 19.3% in the first quarter. Alpha Cubed Investments LLC now owns 4,176 shares of the computer hardware maker’s stock valued at $455,000 after buying an additional 676 shares in the last quarter. Institutional investors own 65.85% of the company’s stock.
NVIDIA Corporation (NASDAQ NVDA) traded up 6.09% during mid-day trading on Friday, hitting $179.72. The company had a trading volume of 28,880,491 shares. The firm’s 50 day moving average is $165.78 and its 200 day moving average is $136.43. The company has a market capitalization of $107.83 billion, a price-to-earnings ratio of 51.69 and a beta of 1.25. NVIDIA Corporation has a 52 week low of $62.12 and a 52 week high of $179.97.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post $3.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. NVIDIA Corporation’s payout ratio is 15.86%.
In related news, Director Robert K. Burgess sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $158.08, for a total value of $7,904,000.00. Following the completion of the sale, the director now owns 14,350 shares in the company, valued at $2,268,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 30,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the sale, the director now owns 16,507 shares of the company’s stock, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. Insiders sold 502,210 shares of company stock valued at $79,743,664 in the last quarter. 5.82% of the stock is owned by company insiders.
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Several research firms recently weighed in on NVDA. UBS AG reaffirmed a “buy” rating and issued a $148.00 price objective (up from $135.00) on shares of NVIDIA Corporation in a research note on Friday, May 19th. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of NVIDIA Corporation in a research note on Monday, July 3rd. B. Riley reissued a “buy” rating and set a $200.00 price target (up from $135.00) on shares of NVIDIA Corporation in a research note on Monday, August 7th. Evercore ISI lifted their price target on NVIDIA Corporation from $180.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $142.10 price target on the stock. in a research note on Tuesday, May 23rd. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $149.13.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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