Smith Salley & Associates lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,148 shares of the computer hardware maker’s stock after selling 1,407 shares during the period. Smith Salley & Associates’ holdings in NVIDIA Corporation were worth $455,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in NVDA. Private Trust Co. NA acquired a new stake in shares of NVIDIA Corporation during the first quarter valued at about $304,000. Grassi Investment Management raised its stake in shares of NVIDIA Corporation by 173.6% in the first quarter. Grassi Investment Management now owns 75,405 shares of the computer hardware maker’s stock valued at $8,214,000 after buying an additional 47,845 shares during the period. Capstone Asset Management Co. raised its stake in shares of NVIDIA Corporation by 1.8% in the first quarter. Capstone Asset Management Co. now owns 57,718 shares of the computer hardware maker’s stock valued at $6,287,000 after buying an additional 1,016 shares during the period. Regentatlantic Capital LLC raised its stake in shares of NVIDIA Corporation by 2.8% in the first quarter. Regentatlantic Capital LLC now owns 5,946 shares of the computer hardware maker’s stock valued at $648,000 after buying an additional 160 shares during the period. Finally, Quadrant Capital Group LLC raised its position in NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the last quarter. Institutional investors own 68.55% of the company’s stock.
NVIDIA Corporation (NVDA) opened at 161.50 on Friday. NVIDIA Corporation has a 12-month low of $57.31 and a 12-month high of $174.56. The stock has a market capitalization of $96.42 billion, a price-to-earnings ratio of 46.45 and a beta of 1.24. The stock’s 50 day moving average is $161.56 and its 200 day moving average is $129.36.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company’s revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post $3.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
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A number of equities analysts have weighed in on NVDA shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $171.00 price target (up from $165.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 14th. CLSA reiterated an “underperform” rating and issued a $115.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Pacific Crest reiterated an “underweight” rating and issued a $90.00 price target on shares of NVIDIA Corporation in a research report on Monday, May 8th. Vetr lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 price target for the company. in a research report on Tuesday, July 11th. Finally, Wells Fargo & Company reiterated an “underperform” rating and issued a $75.00 price target (up from $68.00) on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. NVIDIA Corporation currently has an average rating of “Hold” and an average target price of $145.00.
In other news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $164.53, for a total transaction of $8,226,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 81,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $139.90, for a total value of $11,462,146.90. Following the sale, the executive vice president now owns 564,696 shares of the company’s stock, valued at approximately $79,000,970.40. The disclosure for this sale can be found here. Insiders have sold 560,556 shares of company stock valued at $85,649,706 in the last 90 days. Company insiders own 5.82% of the company’s stock.
About NVIDIA Corporation
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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