Bank of Nova Scotia lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 15.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 153,583 shares of the computer hardware maker’s stock after purchasing an additional 20,771 shares during the quarter. Bank of Nova Scotia’s holdings in NVIDIA were worth $23,810,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. McIlrath & Eck LLC lifted its stake in NVIDIA by 14.5% in the first quarter. McIlrath & Eck LLC now owns 496 shares of the computer hardware maker’s stock valued at $89,000 after acquiring an additional 63 shares during the last quarter. LS Investment Advisors LLC lifted its stake in shares of NVIDIA by 0.6% in the second quarter. LS Investment Advisors LLC now owns 12,018 shares of the computer hardware maker’s stock worth $1,974,000 after buying an additional 66 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its stake in shares of NVIDIA by 1.0% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,160 shares of the computer hardware maker’s stock worth $1,190,000 after buying an additional 68 shares during the last quarter. Hanson McClain Inc. lifted its stake in shares of NVIDIA by 9.8% in the first quarter. Hanson McClain Inc. now owns 772 shares of the computer hardware maker’s stock worth $139,000 after buying an additional 69 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc lifted its stake in shares of NVIDIA by 1.0% in the second quarter. Nachman Norwood & Parrott Inc now owns 6,739 shares of the computer hardware maker’s stock worth $1,107,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.
Shares of NVIDIA stock opened at $171.76 on Friday. The firm has a market capitalization of $108.54 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 4.58 and a beta of 2.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The company’s fifty day moving average price is $169.07 and its two-hundred day moving average price is $167.20. NVIDIA Co. has a 52-week low of $124.46 and a 52-week high of $292.76.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The firm’s quarterly revenue was down 17.4% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 4.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Wednesday, August 28th. NVIDIA’s payout ratio is 10.54%.
In other news, CFO Colette Kress sold 31,357 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $179.01, for a total value of $5,613,216.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Persis Drell sold 165 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $180.45, for a total transaction of $29,774.25. Following the completion of the sale, the director now directly owns 18,019 shares in the company, valued at approximately $3,251,528.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,883 shares of company stock worth $12,042,217. 4.64% of the stock is owned by insiders.
A number of brokerages have recently weighed in on NVDA. Bank of America restated a “buy” rating on shares of NVIDIA in a research note on Tuesday, August 20th. Needham & Company LLC restated a “sell” rating on shares of NVIDIA in a research note on Friday, August 16th. FBN Securities set a $190.00 price objective on shares of NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 target price (up from $170.00) on shares of NVIDIA in a research note on Friday, August 16th. Finally, Oppenheimer set a $190.00 target price on shares of NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $190.04.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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