Arden Trust Co increased its position in NVIDIA Co. (NASDAQ:NVDA) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,490 shares of the computer hardware maker’s stock after buying an additional 240 shares during the quarter. Arden Trust Co’s holdings in NVIDIA were worth $1,347,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NVDA. Hoover Financial Advisors Inc. acquired a new stake in NVIDIA during the second quarter valued at approximately $32,000. Avondale Wealth Management acquired a new stake in shares of NVIDIA during the 3rd quarter valued at $49,000. Atlantic Trust LLC boosted its stake in shares of NVIDIA by 46.9% during the 2nd quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ellevest Inc. grew its holdings in shares of 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 acquiring an additional 77 shares during the last quarter. Finally, Old North State Trust LLC acquired a new stake in shares of NVIDIA during the third quarter worth $59,000. 68.11% of the stock is owned by institutional investors and hedge funds.
NVDA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $405.00 to $450.00 and gave the stock a “hold” rating in a report on Thursday, August 20th. BMO Capital Markets raised their price objective on shares of NVIDIA from $565.00 to $650.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Needham & Company LLC boosted their target price on shares of NVIDIA from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Royal Bank of Canada increased their target price on NVIDIA from $528.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Finally, Raymond James reiterated 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 assigned a hold rating and thirty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $521.49.
Shares of NVDA stock opened at $552.46 on Friday. The firm has a market capitalization of $340.87 billion, a P/E ratio of 101.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.55. NVIDIA Co. has a 1 year low of $180.68 and a 1 year high of $589.07. The firm’s fifty day simple moving average is $521.45 and its 200 day simple moving average is $401.87. 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 posted its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.21. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The business’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. Equities research analysts anticipate that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.64 annualized dividend and a yield of 0.12%. NVIDIA’s dividend payout ratio is 13.94%.
In other news, Director Tench Coxe sold 629 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $533.30, for a total transaction of $335,445.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen C. Neal bought 435 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $498.23 per share, for a total transaction of $216,730.05. Following the completion of the transaction, the director now owns 3,963 shares in the company, valued at approximately $1,974,485.49. The disclosure for this purchase can be found here. Insiders sold a total of 173,320 shares of company stock valued at $87,129,970 in the last quarter. Corporate 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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