Eagle Asset Management Inc. Decreases Holdings in NVIDIA Corporation (NVDA)
Eagle Asset Management Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 329,306 shares of the computer hardware maker’s stock after selling 69,031 shares during the period. Eagle Asset Management Inc. owned about 0.05% of NVIDIA worth $58,945,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Great West Life Assurance Co. Can raised its stake in NVIDIA by 1.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 631,999 shares of the computer hardware maker’s stock valued at $111,042,000 after buying an additional 10,023 shares during the last quarter. AGF Investments America Inc. purchased a new stake in NVIDIA during the 3rd quarter valued at $1,441,000. Nordea Investment Management AB raised its stake in NVIDIA by 18.7% during the 3rd quarter. Nordea Investment Management AB now owns 83,147 shares of the computer hardware maker’s stock valued at $14,864,000 after buying an additional 13,080 shares during the last quarter. ETRADE Capital Management LLC raised its stake in NVIDIA by 123.6% during the 3rd quarter. ETRADE Capital Management LLC now owns 3,490 shares of the computer hardware maker’s stock valued at $624,000 after buying an additional 1,929 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in NVIDIA by 10.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 182,395 shares of the computer hardware maker’s stock valued at $32,607,000 after buying an additional 17,895 shares during the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
NVIDIA Corporation (NVDA) opened at $216.96 on Monday. NVIDIA Corporation has a 1-year low of $84.77 and a 1-year high of $218.67. The company has a market cap of $131,477.77, a PE ratio of 53.44, a price-to-earnings-growth ratio of 4.70 and a beta of 1.23. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 31.79% and a return on equity of 54.54%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year. equities research analysts forecast that NVIDIA Corporation will post 4.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a $0.15 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. NVIDIA’s dividend payout ratio (DPR) is presently 14.89%.
In related news, Director Dawn E. Hudson sold 15,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total value of $3,201,600.00. Following the completion of the transaction, the director now owns 46,868 shares of the company’s stock, valued at approximately $10,003,505.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the completion of the transaction, the director now directly owns 16,507 shares of the company’s stock, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,532 shares of company stock valued at $82,218,204. 5.82% of the stock is owned by insiders.
A number of equities research analysts have weighed in on NVDA shares. Bank of America Corporation set a $210.00 target price on shares of NVIDIA and gave the company a “buy” rating in a research note on Thursday, October 12th. Canaccord Genuity restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Friday, September 8th. Raymond James Financial, Inc. upped their price objective on NVIDIA and gave the stock an “outperform” rating in a research note on Friday, November 10th. Goldman Sachs Group Inc upped their price objective on NVIDIA from $193.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, Evercore ISI upped their price objective on NVIDIA from $180.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, September 15th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $186.85.
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Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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.
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