Advisory Services Network LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,052 shares of the computer hardware maker’s stock after selling 1,768 shares during the period. Advisory Services Network LLC’s holdings in NVIDIA were worth $1,084,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. First Midwest Bank Trust Division purchased a new position in NVIDIA during the second quarter worth about $1,809,000. American Century Companies Inc. increased its position in NVIDIA by 3,348.4% in the second quarter. American Century Companies Inc. now owns 220,974 shares of the computer hardware maker’s stock worth $10,388,000 after buying an additional 214,566 shares in the last quarter. Aviance Capital Management LLC purchased a new position in NVIDIA during the second quarter worth about $200,000. UMB Bank N A MO increased its position in NVIDIA by 1.8% in the second quarter. UMB Bank N A MO now owns 76,874 shares of the computer hardware maker’s stock worth $3,614,000 after buying an additional 1,376 shares in the last quarter. Finally, Threshold Group LLC purchased a new position in NVIDIA during the second quarter worth about $481,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 0.10% during trading on Monday, hitting $68.45. The stock had a trading volume of 6,064,453 shares. The stock has a 50-day moving average price of $63.00 and a 200 day moving average price of $48.79. The company has a market cap of $36.62 billion, a P/E ratio of 44.97 and a beta of 1.25. NVIDIA Co. has a 12 month low of $24.75 and a 12 month high of $69.51.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. NVIDIA had a return on equity of 20.86% and a net margin of 16.58%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. Equities analysts expect that NVIDIA Co. will post $1.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, August 23rd. NVIDIA’s payout ratio is currently 30.26%.
A number of brokerages recently weighed in on NVDA. Bank of America Corp. reissued a “buy” rating and issued a $80.00 price target on shares of NVIDIA in a report on Monday. Wells Fargo & Co. reissued an “underperform” rating on shares of NVIDIA in a report on Friday. Vetr downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $69.67 price target on the stock. in a report on Thursday. Susquehanna began coverage on shares of NVIDIA in a report on Tuesday, September 20th. They issued a “neutral” rating and a $66.00 price target on the stock. Finally, SunTrust Banks Inc. began coverage on shares of NVIDIA in a report on Monday, September 19th. They issued a “neutral” rating and a $59.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.60.
In other NVIDIA news, Director Tench Coxe sold 82,269 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $65.74, for a total value of $5,408,364.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 1,817,279 shares of the company’s stock, valued at $106,601,586.14. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
NVIDIA Company Profile
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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