Insight Folios Inc acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 644 shares of the computer hardware maker’s stock, valued at approximately $272,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $28,000. Nordwand Advisors LLC purchased a new position in shares of NVIDIA during the first quarter valued at approximately $28,000. Quarry LP purchased a new position in shares of NVIDIA during the first quarter valued at approximately $34,000. Financial Connections Group Inc. boosted its position in shares of NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 212 shares during the last quarter. Finally, Chelsea Counsel Co. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $37,000. Institutional investors own 64.79% of the company’s stock.
Insider Activity at NVIDIA
In related news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The disclosure for this sale can be found here. Insiders sold 145,232 shares of company stock worth $67,606,089 in the last ninety days. 3.99% of the stock is owned by company insiders.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s payout ratio is currently 3.86%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. StockNews.com assumed coverage on NVIDIA in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. The Goldman Sachs Group raised NVIDIA from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 2nd. KeyCorp boosted their price objective on NVIDIA from $670.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 3rd. Finally, Susquehanna boosted their price objective on NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $558.95.
Check Out Our Latest Research Report on NVDA
NVIDIA Profile
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.
Read More
- Five stocks we like better than NVIDIA
- What Are Utility Stocks? An Overview of the Utilities Sector
- 5 Reasons Gilead Sciences is a Better Buy Than You Think
- Basic Materials Stocks Investing
- Jobs Are Going To The Construction Industry, Momentum Play Time
- What is an Earnings Surprise?
- PepsiCo Q3 Strength Results In A Trend Following Buy Signal
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.
