CMH Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,260 shares of the computer hardware maker’s stock after purchasing an additional 350 shares during the quarter. CMH Wealth Management LLC’s holdings in NVIDIA were worth $1,786,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Deltec Asset Management LLC bought a new stake in NVIDIA during the second quarter worth $452,000. Meadow Creek Investment Management LLC raised its position in NVIDIA by 6.2% during the second quarter. Meadow Creek Investment Management LLC now owns 149,192 shares of the computer hardware maker’s stock worth $24,502,000 after acquiring an additional 8,738 shares in the last quarter. Rehmann Capital Advisory Group raised its position in NVIDIA by 28.5% during the first quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock worth $280,000 after acquiring an additional 346 shares in the last quarter. Meeder Asset Management Inc. raised its position in NVIDIA by 2,473.9% during the second quarter. Meeder Asset Management Inc. now owns 592 shares of the computer hardware maker’s stock worth $97,000 after acquiring an additional 569 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in NVIDIA by 172.1% during the second quarter. Clearstead Advisors LLC now owns 3,633 shares of the computer hardware maker’s stock worth $596,000 after acquiring an additional 2,298 shares in the last quarter. Institutional investors and hedge funds own 64.38% of the company’s stock.
Several research firms have issued reports on NVDA. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA in a research report on Friday, August 16th. Bank of America reaffirmed a “buy” rating on shares of NVIDIA in a research report on Tuesday, August 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of NVIDIA in a research report on Monday, August 12th. Barclays dropped their price target on shares of NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Finally, Sanford C. Bernstein set a $150.00 price objective on shares of NVIDIA and gave the company a “hold” rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. NVIDIA currently has an average rating of “Buy” and a consensus target price of $189.45.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $1.94 earnings per share. NVIDIA’s revenue for the quarter was down 17.4% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Co. will post 4.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Wednesday, August 28th. NVIDIA’s dividend payout ratio is 10.54%.
In other NVIDIA news, Director James C. Gaither sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $182.37, for a total transaction of $1,823,700.00. Following the sale, the director now directly owns 4,279 shares in the company, valued at $780,361.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 31,357 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $179.01, for a total transaction of $5,613,216.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,883 shares of company stock worth $12,042,217. 4.64% of the stock is owned by insiders.
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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