Dorsey Wright & Associates lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,485 shares of the computer hardware maker’s stock after selling 4,908 shares during the period. NVIDIA accounts for 2.8% of Dorsey Wright & Associates’ holdings, making the stock its biggest position. Dorsey Wright & Associates’ holdings in NVIDIA were worth $15,593,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kwmg LLC purchased a new position in shares of NVIDIA during the second quarter worth $105,000. Legacy Financial Advisors Inc. raised its holdings in shares of NVIDIA by 111.0% during the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 233 shares during the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of NVIDIA during the second quarter worth $127,000. Ropes Wealth Advisors LLC raised its holdings in shares of NVIDIA by 561.8% during the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after purchasing an additional 500 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of NVIDIA during the second quarter worth $159,000. 65.69% of the stock is owned by institutional investors and hedge funds.
NVDA has been the subject of several recent research reports. Evercore ISI raised their target price on shares of NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. BidaskClub cut shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $310.00 price objective (up previously from $280.00) on shares of NVIDIA in a report on Thursday, September 20th. Finally, UBS Group raised shares of NVIDIA from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Ten investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. NVIDIA currently has an average rating of “Buy” and a consensus target price of $293.09.
In related news, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the transaction, the executive vice president now directly owns 184,001 shares in the company, valued at $53,240,689.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the transaction, the chief financial officer now owns 297,482 shares in the company, valued at $79,222,431.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,707 shares of company stock worth $32,347,973. Company insiders own 4.70% of the company’s stock.
Shares of NASDAQ NVDA traded up $11.41 during trading on Friday, hitting $246.54. The company had a trading volume of 15,267,400 shares, compared to its average volume of 12,731,036. NVIDIA Co. has a fifty-two week low of $180.58 and a fifty-two week high of $292.76. The firm has a market cap of $170.86 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 3.68 and a beta of 1.64. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Thursday, August 30th were given a $0.15 dividend. The ex-dividend date was Wednesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. NVIDIA’s dividend payout ratio (DPR) is 12.85%.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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