DBK Financial Counsel LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 627 shares of the computer hardware maker’s stock, valued at approximately $265,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NVIDIA by 84,165.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock worth $587,904,569,000 after purchasing an additional 1,388,130,327 shares during the period. Geode Capital Management LLC raised its position in shares of NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after purchasing an additional 267,061 shares during the period. Morgan Stanley raised its position in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. Norges Bank acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $3,900,874,000. Finally, Bank of New York Mellon Corp raised its position in NVIDIA by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock valued at $6,028,280,000 after buying an additional 322,662 shares during the last quarter. 64.79% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
NVDA has been the subject of a number of analyst reports. Susquehanna increased their price target on NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 24th. Westpark Capital raised NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research report on Thursday, August 24th. Evercore ISI increased their price target on NVIDIA to $600.00 in a research report on Thursday, August 24th. Wells Fargo & Company upped their price objective on NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Finally, TD Cowen upped their price objective on NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $561.45.
NVIDIA Stock Performance
NASDAQ:NVDA opened at $454.61 on Monday. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12-month low of $112.04 and a 12-month high of $502.66. The stock has a 50-day moving average price of $449.79 and a 200 day moving average price of $393.58. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 109.81, a P/E/G ratio of 3.52 and a beta of 1.76.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate 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%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts forecast that NVIDIA Co. will post 9.54 EPS for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.
Insider Buying and Selling
In related news, CFO Colette Kress sold 4,980 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction on 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 transaction, 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 SEC, which can be accessed through this link. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the sale, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. In the last three months, insiders sold 145,232 shares of company stock valued at $67,606,089. Insiders own 3.99% of the company’s stock.
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.
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