NVIDIA News
Frontier Wealth Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 16.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,987 shares of the computer hardware maker’s stock after buying an additional 555 shares during the quarter. Frontier Wealth Management LLC’s holdings in NVIDIA were worth $3,190,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NVDA. OLD Mission Capital LLC purchased a new stake in NVIDIA in the third quarter valued at about $293,000. Quilter Plc raised its stake in shares of NVIDIA by 15.9% in the first quarter. Quilter Plc now owns 24,455 shares of the computer hardware maker’s stock worth $13,056,000 after purchasing an additional 3,347 shares during the last quarter. Resources Management Corp CT ADV raised its stake in shares of NVIDIA by 76.7% in the first quarter. Resources Management Corp CT ADV now owns 2,535 shares of the computer hardware maker’s stock worth $1,354,000 after purchasing an additional 1,100 shares during the last quarter. Bourgeon Capital Management LLC raised its stake in shares of NVIDIA by 15.2% in the first quarter. Bourgeon Capital Management LLC now owns 18,790 shares of the computer hardware maker’s stock worth $10,033,000 after purchasing an additional 2,478 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its stake in shares of NVIDIA by 13.3% in the first quarter. KCM Investment Advisors LLC now owns 4,748 shares of the computer hardware maker’s stock worth $2,535,000 after purchasing an additional 559 shares during the last quarter. Institutional investors own 16.88% of the company’s stock.
In other NVIDIA news, Director Robert K. Burgess sold 10,000 shares of NVIDIA stock in a transaction on Wednesday, October 13th. The stock was sold at an average price of $208.68, for a total value of $2,086,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 20,000 shares of NVIDIA stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $218.38, for a total value of $4,367,600.00. The disclosure for this sale can be found here. Insiders sold 440,000 shares of company stock worth $87,344,500 in the last 90 days. Company insiders own 4.47% of the company’s stock.
NVIDIA stock traded up $0.27 during trading on Wednesday, reaching $223.17. 108,617 shares of the company were exchanged, compared to its average volume of 33,170,160. NVIDIA Co. has a 52-week low of $115.67 and a 52-week high of $230.43. The company has a market capitalization of $556.14 billion, a P/E ratio of 79.85, a PEG ratio of 3.57 and a beta of 1.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.80 and a quick ratio of 5.33. The stock’s 50 day simple moving average is $213.94 and its two-hundred day simple moving average is $186.62.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Tuesday, August 17th. The computer hardware maker reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.02. NVIDIA had a return on equity of 40.88% and a net margin of 32.33%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 3.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Wednesday, September 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.16 dividend on an annualized basis and a yield of 0.07%. NVIDIA’s dividend payout ratio is currently 7.77%.
NVDA has been the subject of several research analyst reports. Barclays raised their price objective on NVIDIA from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. Truist Securities raised their price objective on NVIDIA from $192.00 to $227.50 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Argus raised their price objective on NVIDIA from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. Needham & Company LLC raised their target price on NVIDIA from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Finally, Raymond James raised their target price on NVIDIA from $187.50 to $225.00 and gave the stock a “strong-buy” rating in a report on Tuesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $220.22.
About NVIDIA
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. 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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