Neuberger Berman Group LLC Cuts Stake in NVIDIA Corporation (NVDA)
Neuberger Berman Group LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 327,782 shares of the computer hardware maker’s stock after selling 47,037 shares during the period. Neuberger Berman Group LLC owned approximately 0.05% of NVIDIA worth $58,598,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Cibc World Markets Corp increased its holdings in shares of NVIDIA by 12.1% in the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co grew its holdings in NVIDIA by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after acquiring an additional 1,000 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in NVIDIA by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after acquiring an additional 2,836 shares during the period. Girard Partners LTD. grew its holdings in NVIDIA by 7.7% during the second quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock worth $448,000 after acquiring an additional 221 shares during the period. Finally, SG Americas Securities LLC grew its holdings in NVIDIA by 160.9% during the third quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock worth $35,001,000 after acquiring an additional 120,734 shares during the period. 63.51% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Corporation (NASDAQ NVDA) opened at $197.90 on Tuesday. NVIDIA Corporation has a 1 year low of $95.17 and a 1 year high of $218.67. The firm has a market capitalization of $116,085.36, a P/E ratio of 47.18, a PEG ratio of 4.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a dividend of $0.15 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.30%. NVIDIA’s dividend payout ratio (DPR) is presently 14.89%.
Several analysts recently commented on the company. Vetr lowered NVIDIA from a “strong-buy” rating to a “buy” rating and set a $220.79 target price on the stock. in a report on Monday. Loop Capital reaffirmed a “buy” rating and set a $181.00 target price on shares of NVIDIA in a report on Tuesday, August 22nd. Citigroup reaffirmed a “buy” rating and set a $210.00 target price (up from $185.00) on shares of NVIDIA in a report on Friday, September 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NVIDIA in a report on Saturday, September 23rd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $200.00 target price (up from $181.00) on shares of NVIDIA in a report on Monday, October 2nd. Four investment 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 given a strong buy rating to the stock. NVIDIA presently has an average rating of “Buy” and an average target price of $187.44.
In related news, CFO Colette Kress sold 22,808 shares of NVIDIA stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dawn E. Hudson sold 3,052 shares of NVIDIA stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $214.39, for a total value of $654,318.28. Following the transaction, the director now owns 28,816 shares in the company, valued at approximately $6,177,862.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 265,346 shares of company stock worth $49,978,812. 5.82% of the stock is currently owned by company insiders.
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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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