First Dallas Securities Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 580 shares of the computer hardware maker’s stock, valued at approximately $314,000.
Other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its stake in shares of NVIDIA by 5.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 110,437 shares of the computer hardware maker’s stock worth $29,111,000 after acquiring an additional 5,634 shares during the period. Cohen & Steers Inc. purchased a new position in NVIDIA during the first quarter worth about $111,000. APG Asset Management N.V. lifted its position in NVIDIA by 97.7% in the first quarter. APG Asset Management N.V. now owns 784,446 shares of the computer hardware maker’s stock valued at $206,780,000 after purchasing an additional 387,647 shares during the period. CIBC World Markets Inc. boosted its holdings in NVIDIA by 36.5% in the 1st quarter. CIBC World Markets Inc. now owns 65,905 shares of the computer hardware maker’s stock valued at $17,373,000 after purchasing an additional 17,610 shares in the last quarter. Finally, Morgan Stanley increased its position in NVIDIA by 8.4% during the 1st quarter. Morgan Stanley now owns 2,509,795 shares of the computer hardware maker’s stock worth $661,582,000 after purchasing an additional 195,455 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.
A number of analysts recently weighed in on the company. Bank of America restated a “buy” rating and issued a $650.00 price target on shares of NVIDIA in a research note on Monday, September 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $405.00 to $450.00 and gave the stock a “hold” rating in a research note on Thursday, August 20th. Rosenblatt Securities raised their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Morgan Stanley upped their target price on shares of NVIDIA from $380.00 to $507.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 20th. They noted that the move was a valuation call. Finally, Mizuho lifted their price target on shares of NVIDIA from $520.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. NVIDIA currently has an average rating of “Buy” and an average target price of $521.49.
NVIDIA stock opened at $552.46 on Friday. The stock has a fifty day moving average price of $521.45 and a 200 day moving average price of $401.87. NVIDIA Co. has a 52 week low of $180.68 and a 52 week high of $589.07. The firm has a market capitalization of $340.87 billion, a P/E ratio of 101.56, a PEG ratio of 4.10 and a beta of 1.55. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 6.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. NVIDIA’s payout ratio is 13.94%.
In related news, Director Tench Coxe sold 629 shares of NVIDIA stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $533.30, for a total value of $335,445.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen C. Neal purchased 498 shares of the stock in a transaction on Friday, September 25th. The shares were purchased at an average cost of $500.95 per share, with a total value of $249,473.10. Following the transaction, the director now owns 4,476 shares of the company’s stock, valued at approximately $2,242,252.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 173,320 shares of company stock valued at $87,129,970. 4.47% 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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