Addenda Capital Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,573 shares of the computer hardware maker’s stock after selling 7,896 shares during the quarter. Addenda Capital Inc.’s holdings in NVIDIA were worth $7,440,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MPS Loria Financial Planners LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at about $500,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of NVIDIA by 12.1% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,145 shares of the computer hardware maker’s stock valued at $484,000 after acquiring an additional 124 shares in the last quarter. Insight Folios Inc bought a new position in shares of NVIDIA in the 2nd quarter valued at about $272,000. First Command Bank grew its holdings in shares of NVIDIA by 5.0% in the 2nd quarter. First Command Bank now owns 1,628 shares of the computer hardware maker’s stock valued at $689,000 after acquiring an additional 78 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. grew its holdings in shares of NVIDIA by 3.4% in the 2nd quarter. Asahi Life Asset Management CO. LTD. now owns 6,135 shares of the computer hardware maker’s stock valued at $2,595,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.
NVIDIA Stock Up 2.2 %
Shares of NVDA opened at $468.06 on Thursday. The firm has a 50 day simple moving average of $449.15 and a two-hundred day simple moving average of $389.96. The company has a market cap of $1.16 trillion, a P/E ratio of 113.06, a P/E/G ratio of 3.52 and a beta of 1.76. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Research analysts forecast that NVIDIA Co. will post 9.54 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 3.86%.
Insiders Place Their Bets
In related news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NVDA. Mizuho raised their price objective on NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 24th. KeyCorp lifted their price target on NVIDIA from $670.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, October 3rd. Benchmark lifted their price target on NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. HSBC lifted their price target on NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Finally, Barclays lifted their price target on NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $561.45.
Get Our Latest Stock Report on NVIDIA
About NVIDIA
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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