Fulton Bank N.A. boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,462 shares of the computer hardware maker’s stock after buying an additional 468 shares during the period. Fulton Bank N.A.’s holdings in NVIDIA Corporation were worth $501,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock valued at $447,156,000 after buying an additional 3,419,701 shares during the period. Vanguard Group Inc. increased its stake in shares of NVIDIA Corporation by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock valued at $4,093,612,000 after buying an additional 2,597,209 shares during the period. Ameriprise Financial Inc. increased its stake in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of NVIDIA Corporation during the first quarter valued at $126,231,000. Finally, WINTON GROUP Ltd increased its stake in shares of NVIDIA Corporation by 290.5% in the first quarter. WINTON GROUP Ltd now owns 1,552,770 shares of the computer hardware maker’s stock valued at $106,396,000 after buying an additional 1,155,115 shares during the period. 68.55% of the stock is owned by institutional investors.
NVIDIA Corporation (NVDA) traded up 0.02% during midday trading on Friday, reaching $161.50. 15,030,107 shares of the company’s stock traded hands. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $174.56. The company has a market capitalization of $96.42 billion, a price-to-earnings ratio of 46.45 and a beta of 1.24. The firm’s 50-day moving average is $161.56 and its 200-day moving average is $129.36.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. Analysts forecast that NVIDIA Corporation will post $3.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
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Several equities research analysts recently weighed in on NVDA shares. Vetr raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 price target for the company in a research report on Monday, June 12th. Zacks Investment Research raised shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a research report on Tuesday, July 11th. Canaccord Genuity reissued a “buy” rating on shares of NVIDIA Corporation in a research report on Saturday, June 3rd. Mizuho reissued a “buy” rating and set a $170.00 price target (up previously from $145.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 28th. Finally, BidaskClub raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $145.00.
In other NVIDIA Corporation news, Director A Brooke Seawell sold 3,107 shares of NVIDIA Corporation stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $140.00, for a total transaction of $434,980.00. Following the completion of the sale, the director now directly owns 5,165 shares in the company, valued at $723,100. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the completion of the transaction, the director now owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 560,556 shares of company stock valued at $85,649,706. Company insiders own 5.82% of the company’s stock.
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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