Prosperity Consulting Group LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,733 shares of the computer hardware maker’s stock after purchasing an additional 83 shares during the period. Prosperity Consulting Group LLC’s holdings in NVIDIA were worth $733,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in shares of NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC bought a new position in NVIDIA in the 1st quarter worth approximately $28,000. Quarry LP bought a new position in NVIDIA in the 1st quarter worth approximately $34,000. Compass Wealth Management LLC bought a new position in NVIDIA in the 4th quarter worth approximately $39,000. Finally, MRP Capital Investments LLC acquired a new stake in NVIDIA during the 2nd quarter worth $42,000. Institutional investors own 64.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Oppenheimer lifted their target price on shares of NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Susquehanna lifted their target price on shares of NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $561.45.
NVIDIA Stock Down 3.2 %
NVIDIA stock opened at $454.61 on Monday. The stock has a market cap 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. 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 twelve month low of $112.04 and a twelve month high of $502.66. The company’s 50-day moving average price is $449.79 and its two-hundred day moving average price is $393.58.
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 firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s revenue was up 101.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, analysts expect that NVIDIA Co. will post 9.54 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given 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 0.04%. NVIDIA’s payout ratio is presently 3.86%.
Insiders Place Their Bets
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the transaction, the chief executive officer now owns 7,918,875 shares in the company, valued at approximately $3,555,495,686.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at approximately $3,555,495,686.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock worth $67,606,089 in the last quarter. Corporate 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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