Investors Buy NVIDIA (NVDA) on Weakness
Investors bought shares of NVIDIA Co. (NASDAQ:NVDA) on weakness during trading hours on Tuesday. $614.44 million flowed into the stock on the tick-up and $500.32 million flowed out of the stock on the tick-down, for a money net flow of $114.12 million into the stock. Of all equities tracked, NVIDIA had the 4th highest net in-flow for the day. NVIDIA traded down ($2.91) for the day and closed at $271.02
Several equities analysts recently commented on NVDA shares. UBS Group raised shares of NVIDIA from a “market perform” rating to an “outperform” rating in a research note on Friday, August 17th. Oppenheimer raised shares of NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 price objective for the company in a research note on Friday, August 17th. Wells Fargo & Co raised shares of NVIDIA from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $315.00 in a research note on Tuesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of NVIDIA in a research note on Friday, August 17th. Finally, BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. NVIDIA currently has a consensus rating of “Buy” and an average price target of $283.35.
The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $168.07 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, August 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, August 29th. NVIDIA’s dividend payout ratio (DPR) is presently 12.85%.
In other news, CFO Colette Kress sold 889 shares of the stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $257.64, for a total transaction of $229,041.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the sale, the director now owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,932 shares of company stock valued at $24,452,088. 4.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Kwmg LLC acquired a new stake in NVIDIA in the second quarter worth $105,000. Legacy Financial Advisors Inc. grew its holdings in NVIDIA by 111.0% in the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 233 shares during the period. Bruderman Asset Management LLC acquired a new stake in NVIDIA in the first quarter worth $127,000. Almanack Investment Partners LLC. acquired a new stake in NVIDIA in the second quarter worth $127,000. Finally, Ropes Wealth Advisors LLC grew its holdings in NVIDIA by 561.8% in the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after purchasing an additional 500 shares during the period. Institutional investors own 65.64% of the company’s stock.
NVIDIA Company Profile (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
See Also: Compound Annual Growth Rate (CAGR)
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