Aries Wealth Management acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 400 shares of the computer hardware maker’s stock, valued at approximately $216,000.
Other institutional investors have also modified their holdings of the company. Hoover Financial Advisors Inc. acquired a new stake in NVIDIA in the 2nd quarter worth about $32,000. Atlantic Trust LLC raised its stake in NVIDIA by 46.9% in the 2nd quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Ellevest Inc. raised its stake in NVIDIA by 256.7% in the 2nd quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 77 shares in the last quarter. Blue Bell Private Wealth Management LLC bought a new position in NVIDIA in the 2nd quarter valued at about $50,000. Finally, Campbell Wealth Management bought a new position in NVIDIA in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 68.11% of the company’s stock.
Several equities analysts have commented on NVDA shares. Wells Fargo & Company raised their target price on shares of NVIDIA from $535.00 to $605.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Needham & Company LLC raised their target price on shares of NVIDIA from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Citigroup raised their target price on shares of NVIDIA from $392.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, August 20th. New Street Research lowered shares of NVIDIA from a “neutral” rating to a “sell” rating and set a $400.00 target price on the stock. in a report on Thursday, October 8th. Finally, Raymond James reissued a “buy” rating on shares of NVIDIA in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $521.49.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.21. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue was up 50.1% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 6.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. NVIDIA’s payout ratio is 13.94%.
In other news, Director A Brooke Seawell sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $513.77, for a total value of $5,137,700.00. Following the completion of the sale, the director now owns 10,712 shares in the company, valued at approximately $5,503,504.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 629 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $533.30, for a total transaction of $335,445.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,320 shares of company stock valued at $87,129,970. Company insiders own 4.47% of the company’s stock.
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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