Tench Coxe Sells 48,000 Shares of Nvidia Corp. (NVDA) Stock
Nvidia Corp. (NASDAQ:NVDA) Director Tench Coxe sold 48,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $63.66, for a total value of $3,055,680.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Tench Coxe also recently made the following trade(s):
- On Wednesday, September 21st, Tench Coxe sold 40,000 shares of Nvidia Corp. stock. The shares were sold at an average price of $63.54, for a total value of $2,541,600.00.
Nvidia Corp. (NASDAQ:NVDA) traded up 2.81% during mid-day trading on Wednesday, hitting $64.86. The stock had a trading volume of 8,405,337 shares. Nvidia Corp. has a 52-week low of $22.50 and a 52-week high of $65.26. The firm has a 50-day moving average of $61.39 and a 200-day moving average of $47.19. The stock has a market cap of $34.70 billion, a P/E ratio of 42.61 and a beta of 1.26.
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Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.34 earnings per share. Nvidia Corp.’s revenue was up 23.9% compared to the same quarter last year. On average, analysts forecast that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. Nvidia Corp.’s dividend payout ratio (DPR) is currently 30.26%.
NVDA has been the subject of a number of research reports. Vetr upgraded Nvidia Corp. from a “strong sell” rating to a “sell” rating and set a $40.86 price objective for the company in a research report on Thursday, May 26th. Goldman Sachs Group Inc. assumed coverage on Nvidia Corp. in a report on Thursday, June 2nd. They set a “buy” rating and a $54.00 price target for the company. Jefferies Group raised Nvidia Corp. to a “buy” rating and boosted their price target for the company from $3.50 to $56.00 in a report on Monday, June 13th. Nomura raised Nvidia Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $55.00 in a report on Monday, June 13th. Finally, MKM Partners reissued a “buy” rating and set a $52.00 price target (up previously from $43.00) on shares of Nvidia Corp. in a report on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.20.
A number of hedge funds have recently made changes to their positions in the company. Brick & Kyle Associates raised its position in shares of Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock worth $159,000 after buying an additional 1,415 shares during the period. Aviance Capital Management LLC bought a new position in shares of Nvidia Corp. during the second quarter worth $200,000. Stratos Wealth Partners LTD. bought a new position in shares of Nvidia Corp. during the second quarter worth $201,000. Finally, Broderick Brian C bought a new position in shares of Nvidia Corp. during the second quarter worth $209,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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