Stonebridge Capital Management Inc. held its position in shares of Nvidia Corp. (NASDAQ:NVDA) during the second quarter, Holdings Channel reports. The institutional investor owned 6,200 shares of the computer hardware maker’s stock at the end of the second quarter. Stonebridge Capital Management Inc.’s holdings in Nvidia Corp. were worth $292,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviance Capital Management LLC purchased a new position in shares of Nvidia Corp. during the second quarter valued at $200,000. Raymond James Trust N.A. purchased a new position in shares of Nvidia Corp. during the second quarter valued at $224,000. Cim LLC purchased a new position in shares of Nvidia Corp. during the second quarter valued at $232,000. Benjamin F. Edwards & Company Inc. increased its position 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 valued at $240,000 after buying an additional 4,600 shares in the last quarter. Finally, Hollencrest Securities LLC purchased a new position in shares of Nvidia Corp. during the second quarter valued at $245,000. 86.37% of the stock is owned by institutional investors.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 0.93% on Thursday, hitting $67.40. 8,416,681 shares of the company traded hands. The stock’s 50-day moving average price is $62.49 and its 200-day moving average price is $48.39. The company has a market capitalization of $36.06 billion, a PE ratio of 44.28 and a beta of 1.26. Nvidia Corp. has a 12 month low of $23.47 and a 12 month high of $67.61.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, equities analysts predict that Nvidia Corp. will post $1.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio (DPR) is presently 30.26%.
Several research analysts recently weighed in on NVDA shares. Goldman Sachs Group Inc. started coverage on shares of Nvidia Corp. in a report on Thursday, June 2nd. They issued a “buy” rating and a $54.00 target price for the company. Zacks Investment Research raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Tuesday, June 28th. Vetr raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $47.09 target price for the company in a report on Monday, June 27th. B. Riley reaffirmed a “buy” rating and issued a $58.00 target price on shares of Nvidia Corp. in a report on Wednesday, June 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $55.00 price target (up previously from $45.00) on shares of Nvidia Corp. in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.27.
In other news, Director Mark L. Perry sold 35,000 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $52.93, for a total value of $1,852,550.00. Following the completion of the transaction, the director now owns 97,292 shares in the company, valued at approximately $5,149,665.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tench Coxe sold 82,269 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $65.74, for a total transaction of $5,408,364.06. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Nvidia Corp. 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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