Good Life Advisors LLC Increases Stake in NVIDIA Corporation (NVDA)
Good Life Advisors LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,396 shares of the computer hardware maker’s stock after buying an additional 202 shares during the period. Good Life Advisors LLC’s holdings in NVIDIA Corporation were worth $521,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. RB Capital Management LLC bought a new stake in NVIDIA Corporation during the second quarter worth $272,000. D. Scott Neal Inc. bought a new stake in NVIDIA Corporation during the second quarter worth $258,000. Greenwich Wealth Management LLC raised its stake in NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock worth $6,039,000 after buying an additional 357 shares during the period. Ameriprise Financial Inc. raised its stake in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in NVIDIA Corporation by 6.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock worth $33,573,000 after buying an additional 19,245 shares during the period. 66.41% of the stock is owned by institutional investors and hedge funds.
NVIDIA Corporation (NASDAQ:NVDA) traded up 0.1100% during mid-day trading on Wednesday, reaching $164.8812. The company’s stock had a trading volume of 1,720,534 shares. The firm’s 50 day moving average is $163.91 and its 200-day moving average is $131.12. The company has a market cap of $98.93 billion, a PE ratio of 47.4205 and a beta of 1.24. NVIDIA Corporation has a 12-month low of $57.32 and a 12-month high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Equities analysts anticipate that NVIDIA Corporation will post $3.60 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.34%. NVIDIA Corporation’s payout ratio is currently 15.86%.
A number of research firms have recently weighed in on NVDA. Vetr raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 price objective for the company in a research note on Thursday, May 4th. Stifel Nicolaus increased their price objective on NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price objective on shares of NVIDIA Corporation in a research note on Friday, May 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $144.95.
In other NVIDIA Corporation news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $150.29, for a total value of $15,029,000.00. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $4,623,220.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert K. Burgess sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $158.08, for a total transaction of $7,904,000.00. Following the completion of the transaction, the director now directly owns 14,350 shares of the company’s stock, valued at $2,268,448. The disclosure for this sale can be found here. Over the last three months, insiders sold 411,801 shares of company stock valued at $64,525,721. 5.17% of the stock is currently owned by corporate insiders.
NVIDIA Corporation Company Profile
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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