NVIDIA Co. (NVDA) Position Cut by Citizens Financial Group Inc RI
Citizens Financial Group Inc RI trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 26.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,475 shares of the computer hardware maker’s stock after selling 894 shares during the quarter. Citizens Financial Group Inc RI’s holdings in NVIDIA were worth $445,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Apertura Capital LLC boosted its position in NVIDIA by 13,650.0% in the first quarter. Apertura Capital LLC now owns 55,000 shares of the computer hardware maker’s stock valued at $9,876,000 after buying an additional 54,600 shares in the last quarter. Advisor Group Inc. boosted its position in NVIDIA by 13.5% in the first quarter. Advisor Group Inc. now owns 98,535 shares of the computer hardware maker’s stock valued at $17,698,000 after buying an additional 11,743 shares in the last quarter. IMA Wealth Inc. boosted its position in NVIDIA by 28.8% in the first quarter. IMA Wealth Inc. now owns 23,303 shares of the computer hardware maker’s stock valued at $4,184,000 after buying an additional 5,205 shares in the last quarter. Roundview Capital LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $539,000. Finally, MayTech Global Investments LLC boosted its position in NVIDIA by 5.5% in the first quarter. MayTech Global Investments LLC now owns 49,155 shares of the computer hardware maker’s stock valued at $8,826,000 after buying an additional 2,551 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of NVIDIA from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Summit Redstone lowered shares of NVIDIA to a “hold” rating in a research report on Friday, May 17th. ValuEngine upgraded shares of NVIDIA from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $198.93.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. NVIDIA’s revenue for the quarter was down 30.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 4.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.48%. NVIDIA’s payout ratio is 10.54%.
In related news, CFO Colette Kress sold 14,092 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the transaction, the executive vice president now owns 171,783 shares in the company, valued at approximately $31,779,855. The disclosure for this sale can be found here. 4.64% of the stock is owned by insiders.
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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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