Investors Buy Shares of NVIDIA (NVDA) on Weakness
Investors bought shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading on Tuesday. $627.59 million flowed into the stock on the tick-up and $551.88 million flowed out of the stock on the tick-down, for a money net flow of $75.71 million into the stock. Of all equities tracked, NVIDIA had the 6th highest net in-flow for the day. NVIDIA traded down ($3.82) for the day and closed at $190.84
Several brokerages recently commented on NVDA. ValuEngine cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Vetr upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $218.56 target price for the company in a research report on Wednesday, November 29th. Mizuho restated a “buy” rating and set a $225.00 target price on shares of NVIDIA in a research report on Tuesday, November 28th. Royal Bank of Canada restated a “buy” rating on shares of NVIDIA in a research report on Friday, November 24th. Finally, Canaccord Genuity lifted their target price on shares of NVIDIA from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $187.38.
The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The firm has a market capitalization of $116,042.95, a PE ratio of 47.17, a price-to-earnings-growth ratio of 4.46 and a beta of 1.18.
The business also recently announced 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 represents a $0.60 dividend on an annualized basis and a yield of 0.31%. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA’s payout ratio is presently 14.89%.
In related news, Director A Brooke Seawell sold 1,029 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the completion of the sale, the director now directly owns 1,029 shares in the company, valued at $220,308.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dawn E. Hudson sold 3,052 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $214.39, for a total transaction of $654,318.28. Following the completion of the sale, the director now owns 28,816 shares of the company’s stock, valued at $6,177,862.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,175 shares of company stock valued at $59,428,079. 5.17% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in NVIDIA by 5,424.4% during the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after buying an additional 4,022,728 shares during the period. Vanguard Group Inc. grew its stake in NVIDIA by 7.1% during the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after buying an additional 2,676,976 shares during the period. Jackson Square Partners LLC purchased a new stake in NVIDIA during the second quarter worth approximately $229,323,000. Renaissance Technologies LLC grew its stake in NVIDIA by 19.3% during the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock worth $687,931,000 after buying an additional 768,200 shares during the period. Finally, Quantitative Investment Management LLC grew its stake in NVIDIA by 3,194.2% during the second quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock worth $98,098,000 after buying an additional 658,000 shares during the period. Hedge funds and other institutional investors own 63.51% of the company’s stock.
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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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