Edgemoor Investment Advisors Inc. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 29.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,385 shares of the computer hardware maker’s stock after selling 591 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in NVIDIA were worth $586,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marquette Asset Management LLC acquired a new position in NVIDIA in the second quarter valued at $34,000. Nordwand Advisors LLC acquired a new position in NVIDIA in the first quarter valued at $28,000. MRP Capital Investments LLC acquired a new position in NVIDIA in the second quarter valued at $42,000. Graham Capital Wealth Management LLC acquired a new position in NVIDIA in the first quarter valued at $311,102,000. Finally, Quarry LP acquired a new position in NVIDIA in the first quarter valued at $34,000. 64.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a report on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. BMO Capital Markets lifted their target price on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $600.00 target price on shares of NVIDIA in a report on Friday. Finally, KeyCorp decreased their price objective on shares of NVIDIA from $750.00 to $650.00 and set an “overweight” rating on the stock in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $571.49.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,793,980,800. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 in the last ninety days. 3.99% of the stock is owned by insiders.
NVIDIA Price Performance
Shares of NVDA stock opened at $504.09 on Tuesday. The company has a market capitalization of $1.25 trillion, a PE ratio of 121.76, a price-to-earnings-growth ratio of 3.80 and a beta of 1.69. The firm has a fifty day simple moving average of $445.22 and a 200-day simple moving average of $425.77. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a twelve month low of $138.84 and a twelve month high of $505.48.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 9.66 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 3.86%.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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