ARK Investment Management LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 79.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,769 shares of the computer hardware maker’s stock after purchasing an additional 56,138 shares during the quarter. NVIDIA Corporation makes up approximately 3.6% of ARK Investment Management LLC’s holdings, making the stock its 5th largest holding. ARK Investment Management LLC’s holdings in NVIDIA Corporation were worth $18,326,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Life Insurance Co increased its position in NVIDIA Corporation by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after purchasing an additional 1,000 shares in the last quarter. RB Capital Management LLC purchased a new stake in NVIDIA Corporation during the 2nd quarter worth about $272,000. Oppenheimer Asset Management Inc. increased its position in NVIDIA Corporation by 17.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 2,836 shares in the last quarter. D. Scott Neal Inc. purchased a new stake in NVIDIA Corporation during the 2nd quarter worth about $258,000. Finally, Girard Partners LTD. increased its position in NVIDIA Corporation by 7.7% during the 2nd quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock worth $448,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 65.79% of the company’s stock.
In related news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the completion of the transaction, the director now owns 30,762 shares in the company, valued at approximately $4,623,220.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 356,690 shares of company stock valued at $58,137,873 in the last 90 days. 5.82% of the stock is owned by corporate insiders.
A number of analysts recently commented on the company. B. Riley reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. Royal Bank Of Canada reiterated a “buy” rating and set a $205.00 price objective (up previously from $175.00) on shares of NVIDIA Corporation in a research report on Monday. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $179.35 price objective for the company. in a research report on Monday. Evercore ISI lifted their price objective on NVIDIA Corporation from $180.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. Finally, Susquehanna Bancshares Inc lifted their price objective on NVIDIA Corporation from $140.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, September 14th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA Corporation presently has an average rating of “Hold” and a consensus target price of $150.03.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded down 0.40% during midday trading on Friday, hitting $180.04. The stock had a trading volume of 6,522,383 shares. NVIDIA Corporation has a 12-month low of $63.27 and a 12-month high of $191.20. The firm has a 50-day moving average of $167.68 and a 200 day moving average of $138.76. The firm has a market cap of $108.02 billion, a PE ratio of 51.78 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 56.2% on a year-over-year basis. On average, analysts expect that NVIDIA Corporation will post $3.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.31%. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
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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