NVIDIA Corporation (NVDA) Holdings Reduced by Tower Bridge Advisors
Tower Bridge Advisors reduced its position in NVIDIA Corporation (NASDAQ:NVDA) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,443 shares of the computer hardware maker’s stock after selling 329 shares during the quarter. Tower Bridge Advisors’ holdings in NVIDIA Corporation were worth $1,152,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Evercore Wealth Management LLC grew its holdings in shares of NVIDIA Corporation by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares during the last quarter. TB Alternative Assets Ltd. bought a new stake in shares of NVIDIA Corporation during the 2nd quarter valued at approximately $116,000. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA Corporation by 186.1% during the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after purchasing an additional 547 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares during the last quarter. Finally, Hanson McClain Inc. grew its holdings in shares of NVIDIA Corporation by 12.7% during the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after purchasing an additional 99 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Barclays PLC lifted their price target on shares of NVIDIA Corporation from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Friday. B. Riley reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA Corporation in a research report on Sunday, August 13th. Jefferies Group LLC lifted their target price on shares of NVIDIA Corporation from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of NVIDIA Corporation in a research report on Friday. Finally, J P Morgan Chase & Co reiterated a “hold” rating and set a $207.00 target price on shares of NVIDIA Corporation in a research report on Friday. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $185.41.
In related news, CFO Colette Kress sold 22,808 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Byron sold 409 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the transaction, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 436,503 shares of company stock worth $78,796,295. 5.17% of the stock is owned by company insiders.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up $10.82 during trading on Monday, hitting $216.14. 31,331,300 shares of the stock were exchanged, compared to its average volume of 17,773,291. NVIDIA Corporation has a 52-week low of $78.50 and a 52-week high of $218.67. The stock has a market capitalization of $128,040.00, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 5.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. equities research analysts expect that NVIDIA Corporation will post 3.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio is 14.00%.
NVIDIA Corporation 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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