Granite Point Capital Management L.P. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 115.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the computer hardware maker’s stock after purchasing an additional 9,100 shares during the period. NVIDIA makes up 0.6% of Granite Point Capital Management L.P.’s portfolio, making the stock its 13th biggest position. Granite Point Capital Management L.P.’s holdings in NVIDIA were worth $3,039,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cibc World Markets Corp grew its holdings in NVIDIA by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after acquiring an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in NVIDIA 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 acquiring an additional 1,000 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in NVIDIA 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 acquiring an additional 2,836 shares in the last quarter. Girard Partners LTD. grew its holdings in NVIDIA 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 acquiring an additional 221 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in NVIDIA by 160.9% during the 3rd quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock worth $35,001,000 after acquiring an additional 120,734 shares in the last quarter. 63.51% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. B. Riley reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Sunday, August 13th. Stifel Nicolaus restated a “hold” rating and issued a $110.00 price target on shares of NVIDIA in a research report on Friday, August 11th. Instinet restated a “reduce” rating and issued a $110.00 price target (up from $90.00) on shares of NVIDIA in a research report on Monday, August 14th. Vetr downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating and set a $173.32 price target on the stock. in a research report on Tuesday, August 15th. Finally, MKM Partners restated a “neutral” rating and issued a $120.00 price target (up from $106.00) on shares of NVIDIA in a research report on Monday, August 14th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus price target of $187.38.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.39. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s revenue was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. research analysts expect that NVIDIA Corporation will post 4.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s payout ratio is currently 14.89%.
In other news, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the transaction, the director now owns 1,029 shares of the company’s stock, valued at approximately $220,308.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 22,808 shares of NVIDIA stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders sold a total of 315,175 shares of company stock worth $59,428,079 in the last ninety days. Corporate insiders own 5.17% of the company’s stock.
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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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