Polaris Greystone Financial Group LLC cut its stake in NVIDIA Corporation (NASDAQ:NVDA) by 29.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,698 shares of the computer hardware maker’s stock after selling 51,190 shares during the period. NVIDIA Corporation makes up approximately 1.9% of Polaris Greystone Financial Group LLC’s holdings, making the stock its 12th biggest position. Polaris Greystone Financial Group LLC’s holdings in NVIDIA Corporation were worth $21,935,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of NVIDIA Corporation by 13.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,730 shares of the computer hardware maker’s stock worth $16,041,000 after acquiring an additional 10,292 shares during the period. BT Investment Management Ltd increased its position in NVIDIA Corporation by 236.7% in the 3rd quarter. BT Investment Management Ltd now owns 48,044 shares of the computer hardware maker’s stock valued at $8,592,000 after acquiring an additional 33,776 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in NVIDIA Corporation in the 3rd quarter valued at about $219,000. Meridian Wealth Management LLC acquired a new stake in NVIDIA Corporation in the 3rd quarter valued at about $527,000. Finally, Advisors Preferred LLC acquired a new stake in NVIDIA Corporation in the 3rd quarter valued at about $305,000. 65.40% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Colette Kress sold 22,808 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Byron sold 409 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was 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 of the company’s stock, valued at approximately $23,291,390.99. The disclosure for this sale can be found here. Insiders have sold 451,503 shares of company stock valued at $81,997,895 in the last three months. 5.17% of the stock is owned by insiders.
NVDA has been the subject of several analyst reports. Bank of America Corporation set a $210.00 price target on shares of NVIDIA Corporation and gave the stock a “buy” rating in a research report on Thursday, October 12th. Canaccord Genuity restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA Corporation in a report on Friday, September 8th. BidaskClub upgraded shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) boosted their price objective on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, Evercore ISI lifted their price target on shares of NVIDIA Corporation from $180.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. NVIDIA Corporation currently has an average rating of “Buy” and a consensus price target of $185.93.
NVIDIA Corporation (NASDAQ NVDA) traded down $4.39 during mid-day trading on Wednesday, reaching $209.79. The company’s stock had a trading volume of 4,222,477 shares, compared to its average volume of 17,738,049. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $128,510.00, a price-to-earnings ratio of 52.37, a PEG ratio of 4.74 and a beta of 1.23. NVIDIA Corporation has a 1-year low of $83.93 and a 1-year high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. sell-side analysts expect that NVIDIA Corporation will post 4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.29%. NVIDIA Corporation’s payout ratio is presently 14.00%.
NVIDIA Corporation Company 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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