Northwestern Mutual Wealth Management Co. increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 44.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,428 shares of the computer hardware maker’s stock after purchasing an additional 3,828 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NVIDIA Corporation were worth $1,797,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. TB Alternative Assets Ltd. purchased a new stake in shares of NVIDIA Corporation during the second quarter worth about $116,000. Thompson Davis & CO. Inc. grew its position in shares of NVIDIA Corporation by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of NVIDIA Corporation by 186.1% during the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after purchasing an additional 547 shares in the last quarter. Hanson McClain Inc. grew its position in shares of NVIDIA Corporation by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after purchasing an additional 99 shares in the last quarter. Finally, Founders Capital Management grew its position in shares of NVIDIA Corporation by 25.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the computer hardware maker’s stock worth $145,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 65.85% of the company’s stock.
Several research firms recently issued reports on NVDA. UBS AG reiterated a “buy” rating and set a $148.00 target price (up previously from $135.00) on shares of NVIDIA Corporation in a research report on Friday, May 19th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $165.00 target price (up previously from $130.00) on shares of NVIDIA Corporation in a research report on Monday, May 15th. Susquehanna Bancshares Inc reiterated a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. B. Riley restated a “buy” rating and set a $200.00 price target (up previously from $135.00) on shares of NVIDIA Corporation in a report on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $180.00 price target on shares of NVIDIA Corporation in a report on Tuesday. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $145.10.
In other NVIDIA Corporation news, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $158.08, for a total value of $7,904,000.00. Following the sale, the director now directly owns 14,350 shares in the company, valued at $2,268,448. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 502,210 shares of company stock worth $79,743,664. 5.17% of the stock is owned by insiders.
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NVIDIA Corporation (NVDA) opened at 169.59 on Tuesday. NVIDIA Corporation has a 52 week low of $59.51 and a 52 week high of $174.56. The stock has a market capitalization of $101.75 billion, a P/E ratio of 48.77 and a beta of 1.25. The company’s 50-day moving average price is $165.37 and its 200 day moving average price is $135.21.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $0.53 earnings per share. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. Equities research analysts expect that NVIDIA Corporation will post $3.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
NVIDIA Corporation Profile
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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