Aviance Capital Management LLC bought a new position in shares of Nvidia Corp. (NASDAQ:NVDA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,266 shares of the computer hardware maker’s stock, valued at approximately $200,000.
Other large investors have also made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $224,000. Cim LLC acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $232,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Nvidia Corp. by 920.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,100 shares of the computer hardware maker’s stock worth $240,000 after buying an additional 4,600 shares during the last quarter. Hollencrest Securities LLC acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $245,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $249,000. 86.37% of the stock is owned by institutional investors and hedge funds.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 0.36% during mid-day trading on Wednesday, reaching $66.78. 7,994,701 shares of the company traded hands. The stock has a market capitalization of $35.73 billion, a PE ratio of 43.88 and a beta of 1.26. The stock’s 50 day moving average is $62.49 and its 200 day moving average is $48.39. Nvidia Corp. has a 52-week low of $23.47 and a 52-week high of $66.83.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, analysts anticipate that Nvidia Corp. will post $1.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
A number of brokerages have recently issued reports on NVDA. B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of Nvidia Corp. in a research note on Monday, July 11th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Nvidia Corp. in a research note on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have given a buy rating to the company’s stock. Nvidia Corp. presently has a consensus rating of “Buy” and a consensus price target of $58.27.
In related news, insider Jen Hsun Huang sold 40,000 shares of Nvidia Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total value of $2,346,400.00. Following the transaction, the insider now directly owns 1,817,279 shares of the company’s stock, valued at $106,601,586.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 48,000 shares of Nvidia Corp. stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $63.66, for a total value of $3,055,680.00. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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