Athena Investment Management bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 482 shares of the computer hardware maker’s stock, valued at approximately $204,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in NVIDIA by 7.5% in the second quarter. Crossmark Global Holdings Inc. now owns 140,187 shares of the computer hardware maker’s stock worth $65,537,000 after purchasing an additional 9,748 shares in the last quarter. Callahan Advisors LLC raised its holdings in NVIDIA by 7.7% in the second quarter. Callahan Advisors LLC now owns 1,544 shares of the computer hardware maker’s stock worth $653,000 after purchasing an additional 110 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its holdings in NVIDIA by 13.7% in the second quarter. Ten Capital Wealth Advisors LLC now owns 1,947 shares of the computer hardware maker’s stock worth $823,000 after purchasing an additional 235 shares in the last quarter. Hilton Capital Management LLC raised its holdings in NVIDIA by 2.6% in the second quarter. Hilton Capital Management LLC now owns 17,514 shares of the computer hardware maker’s stock worth $7,409,000 after purchasing an additional 438 shares in the last quarter. Finally, Meritage Portfolio Management raised its holdings in NVIDIA by 5.7% in the second quarter. Meritage Portfolio Management now owns 8,240 shares of the computer hardware maker’s stock worth $3,486,000 after purchasing an additional 443 shares in the last quarter. Institutional investors own 64.79% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Bank of America raised their price target on NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Oppenheimer raised their price target on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. Morgan Stanley reduced their price target on NVIDIA from $630.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, October 18th. HSBC raised their price target on NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $556.83.
NVIDIA Stock Up 1.6 %
Shares of NVDA opened at $411.61 on Tuesday. The business’s 50 day moving average is $446.88 and its 200 day moving average is $405.33. The company has a market capitalization of $1.02 trillion, a PE ratio of 99.42, a price-to-earnings-growth ratio of 3.14 and a beta of 1.76. NVIDIA Co. has a 12-month low of $129.56 and a 12-month high of $502.66. 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 (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, beating the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. Research analysts expect that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Insiders Place Their Bets
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The stock was 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 of the company’s stock, valued at approximately $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock valued at $67,606,089 in the last quarter. 3.99% of the stock is currently owned by insiders.
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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