Rhumbline Advisers reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 965,659 shares of the computer hardware maker’s stock after selling 57,715 shares during the period. Rhumbline Advisers owned approximately 0.16% of NVIDIA Corporation worth $139,596,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of NVIDIA Corporation by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock valued at $4,093,612,000 after buying an additional 2,597,209 shares in the last quarter. Edgewood Management LLC increased its stake in shares of NVIDIA Corporation by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after buying an additional 1,074,303 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of NVIDIA Corporation by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after buying an additional 895,591 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock valued at $447,156,000 after buying an additional 3,419,701 shares in the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.
Shares of NVIDIA Corporation (NVDA) opened at 155.96 on Friday. The company has a market cap of $92.80 billion, a P/E ratio of 52.35 and a beta of 1.24. The company has a 50 day moving average price of $159.49 and a 200 day moving average price of $127.38. NVIDIA Corporation has a one year low of $57.32 and a one year high of $174.56. NVIDIA Corporation also was the target of unusually large options trading on Thursday. Investors bought 84,606 put options on the stock. This is an increase of 147% compared to the typical daily volume of 34,198 put options.
NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a return on equity of 39.99% and a net margin of 27.41%. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is currently 15.86%.
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Several equities analysts recently weighed in on NVDA shares. BMO Capital Markets reiterated an “underperform” rating and set a $85.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Mizuho reiterated a “buy” rating and set a $180.00 target price (up from $170.00) on shares of NVIDIA Corporation in a research report on Friday. Bank of America Corporation reiterated a “buy” rating and set a $185.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, June 21st. Roth Capital reiterated a “neutral” rating on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 target price on the stock in a research report on Tuesday, July 11th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $144.43.
In other news, insider Michael Byron sold 25,507 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $137.09, for a total value of $3,496,754.63. Following the transaction, the insider now directly owns 162,706 shares of the company’s stock, valued at approximately $22,305,365.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.02, for a total value of $325,050.00. Following the completion of the transaction, the director now directly owns 24,652 shares in the company, valued at $3,205,253.04. The disclosure for this sale can be found here. Insiders sold a total of 572,282 shares of company stock worth $86,830,082 over the last three months. 5.82% of the stock is owned by company insiders.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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