National Asset Management Inc. grew its stake in NVIDIA Corporation (NASDAQ:NVDA) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,427 shares of the computer hardware maker’s stock after purchasing an additional 541 shares during the quarter. National Asset Management Inc.’s holdings in NVIDIA Corporation were worth $1,363,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp lifted its stake in shares of NVIDIA Corporation by 12.1% in the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co lifted its stake in shares of NVIDIA Corporation by 9.9% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares during the period. RB Capital Management LLC acquired a new position in shares of NVIDIA Corporation in the 2nd quarter valued at $272,000. Oppenheimer Asset Management Inc. lifted its stake in shares of NVIDIA Corporation by 17.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. acquired a new position in shares of NVIDIA Corporation in the 2nd quarter valued at $258,000. 65.79% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the stock. B. Riley restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA Corporation in a research report on Tuesday. Vetr upgraded shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $196.86 price objective for the company in a research report on Tuesday. Goldman Sachs Group, Inc. (The) upped their price objective on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday. Loop Capital upped their price objective on shares of NVIDIA Corporation from $181.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $205.00 price objective (up previously from $175.00) on shares of NVIDIA Corporation in a research report on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $156.80.
In other NVIDIA Corporation news, CFO Colette Kress sold 22,808 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark L. Perry sold 16,281 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the completion of the sale, the director now owns 48,069 shares in the company, valued at $7,798,714.56. The disclosure for this sale can be found here. Insiders sold a total of 452,784 shares of company stock worth $81,437,724 over the last quarter. Corporate insiders own 5.82% of the company’s stock.
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Shares of NVIDIA Corporation (NVDA) traded up 1.0179% on Thursday, hitting $192.8836. 9,348,702 shares of the stock traded hands. The stock has a 50 day moving average price of $174.59 and a 200-day moving average price of $147.40. NVIDIA Corporation has a 52 week low of $63.70 and a 52 week high of $193.09. The stock has a market cap of $115.73 billion, a price-to-earnings ratio of 55.4741 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company posted $0.53 EPS. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Corporation will post $3.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Thursday, August 24th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
NVIDIA Corporation Profile
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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