Trinity Legacy Partners LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,722 shares of the computer hardware maker’s stock, valued at approximately $1,551,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in NVIDIA during the third quarter worth about $568,000. D. Scott Neal Inc. purchased a new stake in NVIDIA during the 3rd quarter worth approximately $212,000. Raymond James Trust N.A. grew its holdings in NVIDIA by 5.0% during the 3rd quarter. Raymond James Trust N.A. now owns 18,378 shares of the computer hardware maker’s stock worth $9,947,000 after acquiring an additional 883 shares in the last quarter. Allred Capital Management LLC grew its holdings in NVIDIA by 6.5% during the 3rd quarter. Allred Capital Management LLC now owns 2,871 shares of the computer hardware maker’s stock worth $1,553,000 after acquiring an additional 175 shares in the last quarter. Finally, Norway Savings Bank boosted its holdings in shares of NVIDIA by 150.0% in the 3rd quarter. Norway Savings Bank now owns 125 shares of the computer hardware maker’s stock valued at $68,000 after buying an additional 75 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.
A number of equities analysts have commented on the stock. Cascend Securities upped their price objective on shares of NVIDIA from $560.00 to $590.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Mizuho raised their target price on shares of NVIDIA from $520.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Wedbush restated an “outperform” rating and issued a $600.00 price target (up previously from $525.00) on shares of NVIDIA in a report on Friday, October 2nd. Zacks Investment Research upgraded shares of NVIDIA from a “sell” rating to a “hold” rating and set a $541.00 price objective on the stock in a research note on Tuesday, September 15th. Finally, Oppenheimer lifted their price target on shares of NVIDIA from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Monday, October 5th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $521.49.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 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 analysts’ expectations of $3.66 billion. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 6.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, September 1st. NVIDIA’s payout ratio is presently 13.94%.
In related news, CEO Jen Hsun Huang sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $489.84, for a total value of $48,984,000.00. Following the transaction, the chief executive officer now owns 1,370,600 shares in the company, valued at $671,374,704. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 12,692 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $405.60, for a total value of $5,147,875.20. Following the completion of the transaction, the executive vice president now owns 61,983 shares in the company, valued at approximately $25,140,304.80. The disclosure for this sale can be found here. Insiders have sold 173,320 shares of company stock worth $87,129,970 in the last 90 days. Company insiders own 4.47% of the company’s stock.
NVIDIA Company Profile
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.
Featured Article: Does the Dogs of the Dow strategy work?
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.