BlackRock Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,142,285 shares of the computer hardware maker’s stock after purchasing an additional 85,223 shares during the quarter. BlackRock Inc. owned about 6.26% of NVIDIA worth $6,264,108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its holdings in shares of NVIDIA by 14.5% during the 1st quarter. McIlrath & Eck LLC now owns 496 shares of the computer hardware maker’s stock worth $89,000 after purchasing an additional 63 shares during the period. LS Investment Advisors LLC grew its holdings in shares of NVIDIA by 0.6% during the 2nd quarter. LS Investment Advisors LLC now owns 12,018 shares of the computer hardware maker’s stock worth $1,974,000 after purchasing an additional 66 shares during the period. Landsberg Bennett & Dubbaneh LLC grew its holdings in shares of NVIDIA by 1.0% during the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,160 shares of the computer hardware maker’s stock worth $1,190,000 after purchasing an additional 68 shares during the period. Hanson McClain Inc. grew its holdings in shares of NVIDIA by 9.8% during the 1st quarter. Hanson McClain Inc. now owns 772 shares of the computer hardware maker’s stock worth $139,000 after purchasing an additional 69 shares during the period. Finally, Nachman Norwood & Parrott Inc grew its holdings in shares of NVIDIA by 1.0% during the 2nd quarter. Nachman Norwood & Parrott Inc now owns 6,739 shares of the computer hardware maker’s stock worth $1,107,000 after purchasing an additional 70 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.
NVDA has been the subject of a number of research analyst reports. Wells Fargo & Co restated a “buy” rating on shares of NVIDIA in a report on Monday, August 12th. Daiwa Capital Markets set a $200.00 price target on NVIDIA and gave the company a “buy” rating in a research report on Wednesday, August 21st. Nomura reaffirmed a “hold” rating on shares of NVIDIA in a research report on Friday, August 23rd. BMO Capital Markets reissued a “market perform” rating and set a $145.00 target price on shares of NVIDIA in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. set a $200.00 target price on NVIDIA and gave the stock a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $190.04.
Shares of NVDA opened at $171.76 on Friday. The stock has a 50-day moving average price of $169.07 and a 200 day moving average price of $167.20. NVIDIA Co. has a one year low of $124.46 and a one year high of $292.76. The company has a market capitalization of $108.54 billion, a P/E ratio of 28.30, a P/E/G ratio of 4.58 and a beta of 2.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the firm earned $1.94 EPS. The business’s quarterly revenue was down 17.4% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 4.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Wednesday, August 28th. NVIDIA’s dividend payout ratio is currently 10.54%.
In other news, Director Michael G. Mccaffery sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $165.97, for a total value of $2,489,550.00. Following the completion of the sale, the director now owns 27,579 shares of the company’s stock, valued at $4,577,286.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 31,357 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value of $5,613,216.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,883 shares of company stock worth $12,042,217. 4.64% of the stock is owned by insiders.
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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