Addenda Capital Inc. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,573 shares of the computer hardware maker’s stock after selling 7,896 shares during the period. Addenda Capital Inc.’s holdings in NVIDIA were worth $7,440,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BCM Advisors LLC boosted its position in shares of NVIDIA by 0.8% during the second quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock worth $1,390,000 after buying an additional 23 shares during the period. Von Berge Wealth Management Group LLC boosted its position in shares of NVIDIA by 2.6% during the second quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after buying an additional 24 shares during the period. Hutchens & Kramer Investment Management Group LLC boosted its position in shares of NVIDIA by 3.1% during the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 852 shares of the computer hardware maker’s stock worth $360,000 after buying an additional 26 shares during the period. Hoxton Planning & Management LLC boosted its position in shares of NVIDIA by 0.4% during the second quarter. Hoxton Planning & Management LLC now owns 6,151 shares of the computer hardware maker’s stock worth $2,602,000 after buying an additional 26 shares during the period. Finally, IVC Wealth Advisors LLC boosted its position in shares of NVIDIA by 0.7% during the second quarter. IVC Wealth Advisors LLC now owns 3,629 shares of the computer hardware maker’s stock worth $1,535,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 64.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Tigress Financial upped their target price on NVIDIA from $320.00 to $560.00 in a research report on Friday, July 7th. Oppenheimer increased their price objective on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Susquehanna increased their price objective on NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 24th. StockNews.com began coverage on NVIDIA in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Wolfe Research boosted their target price on shares of NVIDIA from $570.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $561.45.
Insider Activity
In related news, 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 transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Colette Kress sold 4,980 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was 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 in the company, valued at $482,490,310.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,232 shares of company stock worth $67,606,089. Corporate insiders own 3.99% of the company’s stock.
NVIDIA Stock Performance
NASDAQ:NVDA opened at $468.06 on Thursday. The firm has a market capitalization of $1.16 trillion, a PE ratio of 113.06, a price-to-earnings-growth ratio of 3.52 and a beta of 1.76. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66. The firm has a 50-day moving average price of $449.15 and a 200 day moving average price of $389.96.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results 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. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. NVIDIA’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Research analysts anticipate that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 3.86%.
NVIDIA Company 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.
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