OppenheimerFunds Inc. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the computer hardware maker’s stock after selling 3,565 shares during the quarter. OppenheimerFunds Inc.’s holdings in NVIDIA were worth $859,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Stansberry Asset Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $2,171,000. Columbus Circle Investors bought a new stake in shares of NVIDIA during the 1st quarter worth about $27,868,000. Municipal Employees Retirement System of Michigan boosted its holdings in NVIDIA by 1.1% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 31,040 shares of the computer hardware maker’s stock valued at $7,189,000 after purchasing an additional 350 shares during the period. Capital Analysts LLC boosted its holdings in NVIDIA by 14,074.3% in the 4th quarter. Capital Analysts LLC now owns 38,129 shares of the computer hardware maker’s stock valued at $3,722,000 after purchasing an additional 37,860 shares during the period. Finally, Resource Management LLC bought a new stake in NVIDIA in the 1st quarter valued at about $290,000. 65.03% of the stock is currently owned by institutional investors and hedge funds.
NVDA has been the subject of a number of recent analyst reports. SunTrust Banks upped their price target on shares of NVIDIA to $316.00 and gave the stock a “buy” rating in a report on Friday, May 11th. Bank of America reiterated a “buy” rating and set a $340.00 price objective on shares of NVIDIA in a research report on Friday, May 11th. Stifel Nicolaus upped their price target on shares of NVIDIA from $220.00 to $243.00 and gave the company a “hold” rating in a research report on Friday, May 11th. B. Riley increased their price objective on shares of NVIDIA from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. Finally, Rosenblatt Securities increased their target price on shares of NVIDIA from $300.00 to $315.00 in a research note on Friday, May 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have issued a buy rating to the company. NVIDIA presently has an average rating of “Buy” and a consensus target price of $264.62.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.58. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $2.88 billion. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The company’s quarterly revenue was up 65.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. analysts forecast that NVIDIA Co. will post 7.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 24th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, May 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. NVIDIA’s dividend payout ratio is presently 12.85%.
In other NVIDIA news, Director A Brooke Seawell sold 21,029 shares of the stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $264.65, for a total value of $5,565,324.85. Following the sale, the director now owns 21,992 shares in the company, valued at $5,820,182.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total value of $24,211,000.00. Following the completion of the sale, the director now owns 31,725 shares in the company, valued at approximately $7,680,939.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,308 shares of company stock valued at $77,491,336. 4.70% of the stock is owned by corporate insiders.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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