Commonwealth Equity Services Inc increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,686 shares of the computer hardware maker’s stock after purchasing an additional 6,545 shares during the period. Commonwealth Equity Services Inc’s holdings in NVIDIA were worth $23,720,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in NVIDIA by 5,424.4% in the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock valued at $592,244,000 after acquiring an additional 4,022,728 shares during the period. Vanguard Group Inc. grew its stake in NVIDIA by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after acquiring an additional 2,676,976 shares during the period. Jackson Square Partners LLC acquired a new position in NVIDIA in the second quarter valued at about $229,323,000. Renaissance Technologies LLC grew its stake in NVIDIA by 19.3% in the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after acquiring an additional 768,200 shares during the period. Finally, Quantitative Investment Management LLC boosted its position in shares of NVIDIA by 3,194.2% during the second quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock worth $98,098,000 after buying an additional 658,000 shares during the period. 64.14% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on NVDA. B. Riley reaffirmed a “buy” rating and set a $200.00 price objective (up from $135.00) on shares of NVIDIA in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and set a $110.00 target price on shares of NVIDIA in a report on Friday, August 11th. MKM Partners reiterated a “neutral” rating and set a $120.00 target price (up previously from $106.00) on shares of NVIDIA in a report on Monday, August 14th. Susquehanna Bancshares reiterated a “neutral” rating and set a $140.00 target price on shares of NVIDIA in a report on Wednesday, August 16th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of NVIDIA in a report on Saturday, September 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA has a consensus rating of “Buy” and an average target price of $187.38.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $0.94 EPS. NVIDIA’s revenue was up 31.5% compared to the same quarter last year. sell-side analysts predict that NVIDIA Corporation will post 4.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.30%. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA’s dividend payout ratio is presently 14.89%.
In related news, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $189.62, for a total transaction of $9,481,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jen Hsun Huang sold 110,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 425,175 shares of company stock valued at $77,696,879. 5.82% of the stock is owned by corporate insiders.
NVIDIA 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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